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
O'Connor, Gregory J.
14 Oak Park
Bedford, MA 01730
2. Date of Event Requiring Statement (Month/Day/Year)
11/29/01
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)
President, Sonic Software Corporation (wholly owned subsidiary of Progress
Software Corporation)
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 |1,742 (1) |D | |
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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 |7/1/94 (2|12/31/03 |Common Stock |304 (3) |$5.6667 |D | |
|) | | | | | | |
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Incentive Stock Option |3/1/97 (4|3/3/07 |Common Stock |900 (5) |$4.7084 |D | |
|) | | | | | | |
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Nonqualified Stock Optio|3/1/97 (4|3/20/07 |Common Stock |1,750 (6)|$4.7084 |D | |
n |) | | | | | | |
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Nonqualified Stock Optio|7/1/97 (7|6/1/07 |Common Stock |15,000 (8|$5.6667 |D | |
n |) | | |) | | | |
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Nonqualified Stock Optio|8/1/98 (9|9/1/08 |Common Stock |22,000 (1|$9.0000 |D | |
n |) | | |0) | | | |
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Incentive Stock Option |3/1/99 (1|2/9/09 |Common Stock |5,334 (12|$12.8125 |D | |
|1) | | |) | | | |
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Nonqualified Stock Optio|3/1/99 (1|2/9/09 |Common Stock |4,197 (13|$12.8125 |D | |
n |1) | | |) | | | |
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Nonqualified Stock Optio|3/1/99 (1|5/17/09 |Common Stock |3,697 (14|$10.4688 |D | |
n |1) | | |) | | | |
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Incentive Stock Option |3/1/00 (1|2/17/10 |Common Stock |2,232 (16|$19.2500 |D | |
|5) | | |) | | | |
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Nonqualified Stock Optio|3/1/00 (1|2/17/10 |Common Stock |3,185 (17|$19.2500 |D | |
n |5) | | |) | | | |
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Nonqualified Stock Optio|10/6/00 (|10/6/10 |Common Stock |5,416 (19|$12.0625 |D | |
n |18) | | |) | | | |
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Explanation of Responses:
(1) All shares are purchases pursuant to the Employee Stock Purchase Plan. (2)
The option vests in equal monthly increments over 72 months
commencing 7/1/94. (3) As of 11/29/01 the shares were fully vested. (4) The
option vests in equal monthly increments over 60 months commencing
3/1/97. (5) As of 11/29/01, 450 shares were vested. (6) As of 11/29/01, 1,000
shares were vested. (7) The option vests in equal monthly
increments over 60 months commencing 7/1/97. (8) As of 11/29/01, 11,500 shares
were vested. (9) The option vests in equal monthly increments
over 60 months commencing 8/1/98. (10) As of 11/29/01, 12,001 shares were
vested. (11) The option vests in equal monthly increments over 60
months commencing 3/1/99. (12) The original grant amount was 20,000; 3,000
shares have been exercised, and 11,666 shares (the unvested shares
as of 3/31/01) have been cancelled pursuant to an agreement between the Issuer
and Reporting Person. The remaining 5,334 shares were fully
vested as of 11/29/01. (13) The original grant amount was 20,000; 15,803 shares
(the unvested shares as of 3/31/01) have been cancelled pursuant
to an agreement between the Issuer and Reporting Person. The remaining 4,197
shares were fully vested as of 11/29/01. (14) The original grant
amount was 20,000; 16,303 shares (the unvested shares as of 3/31/01) have been
cancelled pursuant to an agreement between the Issuer and
Reporting Person. The remaining 3,697 shares were fully vested as of 11/29/01.
(15) The option vests in equal monthly increments over 60 months
commencing on 3/1/00. (16) The original grant amount was 10,300; 8,068 shares
(the unvested shares as of 3/31/01) have been cancelled pursuant
to an agreement between the Issuer and Reporting Person. The remaining 2,232
shares were fully vested as of 11/29/01. (17) The original grant
amount was 14,700; 11,515 shares (the unvested shares as of 3/31/01) have been
cancelled pursuant to an agreement between the Issuer and
Reporting Person. The remaining 3,185 shares were fully vested as of 11/29/01.
(18) The option vests with respect to 8/60ths on 10/6/00, thereafter
in equal monthly increments over 52 months. (19) The original grant amount was
25,000; 19,584shares (the unvested shares as of 3/31/01) have
been cancelled pursuant to an agreement between the Issuer and Reporting
Person. The remaining 5,416 shares were fully vested as of 11/29/01.
SIGNATURE OF REPORTING PERSON
/s/ Gregory J. O'Connor
DATE
5 December 2001
