Sec Form 4 Filing - QUINN GARY @ PROGRESS SOFTWARE CORP /MA - 2021-11-02

FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person QUINN GARY 2. Issuer Name and Ticker or Trading Symbol PROGRESS SOFTWARE CORP /MA [ PRGS] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director _____ 10% Owner X __ Officer (give title below) _____ Other (specify below) Executive Vice President (Last) (First) (Middle) C/O PROGRESS SOFTWARE CORPORATION, 14 OAK PARK DR. 3. Date of Earliest Transaction (MM/DD/YY) 11/02/2021 (Street) BEDFORD, MA01730 4. If Amendment, Date Original Filed (MM/DD/YY) 6. Individual or Joint/Group Filing (Check Applicable Line) __ X __ Form filed by One Reporting Person _____ Form filed by More than One Reporting Person (City) (State) (Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned 1.Title of Security (Instr. 3) 2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Common Stock 11/02/2021 M 24,934 A $ 38.17 34,751 D Common Stock 11/02/2021 S 24,934 D $ 52.1351 ( 1 ) 9,817 D Common Stock 11/03/2021 M 3,196 A $ 38.17 13,013 D Common Stock 11/03/2021 S 3,196 D $ 52.0471 ( 2 ) 9,817 D Common Stock 11/03/2021 M 12,020 A $ 34.73 21,837 D Common Stock 11/03/2021 S 12,020 D $ 52.0471 ( 2 ) 9,817 D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities) 1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5) 6. Date Exercisable and Expiration Date (MM/DD/YY) 7. Title and Amount of Underlying Securities (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4) Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares Employee Stock Options (Right to buy) $ 38.17 11/02/2021 M 24,934 ( 3 ) 09/28/2024 Common Stock 24,934 $ 0 3,196 D Employee Stock Options (Right to buy) $ 38.17 11/03/2021 M 3,196 ( 3 ) 09/28/2024 Common Stock 3,196 $ 0 0 D Employee Stock Options (Right to buy) $ 34.73 11/03/2021 M 12,020 ( 4 ) 01/21/2026 Common Stock 12,020 $ 0 7,211 D

Reporting Owners Reporting Owner Name / Address Relationships Director 10% Owner Officer Other QUINN GARY C/O PROGRESS SOFTWARE CORPORATION 14 OAK PARK DR. BEDFORD, MA01730 Executive Vice President Signatures Stephen H. Faberman, Attorney-in-Fact 11/04/2021 Signature of Reporting Person Date

Explanation of Responses:

( 1 )This transaction was executed in multiple trades at prices ranging from $52.00 to $52.305 per share. The price reported represents the weighted average sale price of these trades. The Reporting Person hereby undertakes to provide upon request to the SEC staff, the issuer, or a security holder of the issuer, full information regarding the shares sold at each separate price. ( 2 )This transaction was executed in multiple trades at prices ranging from $52.00 to $52.335 per share. The price reported represents the weighted average sale price of these trades. The Reporting Person hereby undertakes to provide upon request to the SEC staff, the issuer, or a security holder of the issuer, full information regarding the shares sold at each separate price. ( 3 )Options were granted to the Reporting Person on September 29, 2017 under Progress Software Corporation's (the "Company's") 2008 Stock Option and Incentive Plan. As of October 1, 2021, all options were vested and exercisable. ( 4 )Options were granted to the Reporting Person on January 22, 2019 under the Company's 2008 Stock Option and Incentive Plan. 12,020 options are vested and exercisable.

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).

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