UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 3
INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES
1. Name and Address of Reporting Person
Pareek, Purna
14 Oak Park
Bedford, MA 01730
USA
2. Date of Event Requiring Statement (Month/Day/Year)
March 2, 1998
3. IRS or Social Security Number of Reporting Person (Voluntary)
4. Issuer Name and Ticker or Trading Symbol
Progress Software Corporation
PRGS
5. Relationship of Reporting Person(s) to Issuer (Check all applicable)
( ) Director ( ) 10% Owner (X) Officer (give title below) ( ) Other
(specify below)
Vice President, General Manager
6. If Amendment, Date of Original (Month/Day/Year)
7. Individual or Joint/Group Filing (Check Applicable Line)
(X) Form filed by One Reporting Person
( ) Form filed by More than One Reporting Person
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Table I -- Non-Derivative Securities Beneficially Owned |
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1. Title of Security |2. Amount of |3. Ownership |4. Nature of Indirect |
| Securities | Form: | Beneficial Ownership |
| Beneficially | Direct(D) or | |
| Owned | Indirect(I) | |
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Common Stock |302,300 |D | |
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Common Stock |1,882 |I |Held by Wife |
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Table II -- Derivative Securitites Beneficially Owned |
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1.Title of Derivative |2.Date Exer- |3.Title and Amount | |4. Conver-|5. Owner- |6. Nature of Indirect |
Security | cisable and | of Underlying | |sion or |ship | Beneficial Ownership |
| Expiration | Securities | |exercise |Form of | |
| Date(Month/ |-----------------------|---------|price of |Deriv- | |
| Day/Year) | |Amount |deri- |ative | |
| Date | Expira- | |or |vative |Security: | |
| Exer- | tion | Title |Number of|Security |Direct(D) or | |
| cisable | Date | |Shares | |Indirect(I) | |
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Incentive Stock Option |7/01/07 (|8/01/07 |Common Stock |5,000 |$16.50 |I |Held By Wife |
|1) | | | | | | |
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Explanation of Responses:
(1) On August 1, 1997, the wife of the reporting person was granted an option
to purchase 5,000 shares of common
stock. The option vests in full on July 1, 2007, but may vest sooner in full
or in part, if certain performance criteria
are satisfied by the business unit by which the optionee is
employed.
SIGNATURE OF REPORTING PERSON
Purna Pareek
DATE
March 6, 1998
