UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 4
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
( ) Check this box if no longer subject to Section 16.
Form 4 or Form 5 obligations may continue. See Instructions 1(b).
1. Name and Address of Reporting Person
Alsop, Joseph Wright
14 Oak Park
Bedford, MA 01730
USA
2. Issuer Name and Ticker or Trading Symbol
Progress Software Corporation
PRGS
3. IRS or Social Security Number of Reporting Person (Voluntary)
4. Statement for Month/Year
June 30, 2002
5. If Amendment, Date of Original (Month/Year)
6. Relationship of Reporting Person(s) to Issuer (Check all applicable)
(X) Director ( ) 10% Owner (X) Officer (give title below) ( ) Other
(specify below)
CEO and Director
7. Individual or Joint/Group Filing (Check Applicable Line)
(X) Form filed by One Reporting Person
( ) Form filed by More than One Reporting Person
___________________________________________________________________________________________________________________________________
Table I -- Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned |
___________________________________________________________________________________________________________________________________|
1. Title of Security |2. |3. |4.Securities Acquired (A) |5.Amount of |6.Dir |7.Nature of Indirect |
| Transaction | or Disposed of (D) | Securities |ect | Beneficial Ownership |
| | | | Beneficially |(D)or | |
| | | | | A/| | Owned at |Indir | |
| Date |Code|V| Amount | D | Price | End of Month |ect(I)| |
___________________________________________________________________________________________________________________________________|
Common Stock |6/4/02|M | |156,000 |A |$5.5000 | | | |
-----------------------------------------------------------------------------------------------------------------------------------|
Common Stock |6/4/02|M | |228,000 |A |$5.5000 | | | |
-----------------------------------------------------------------------------------------------------------------------------------|
Common Stock |6/4/02|M | |38,700 |A |$5.1667 | | | |
-----------------------------------------------------------------------------------------------------------------------------------|
Common Stock |6/4/02|M | |14,700 |A |$4.7084 | | | |
-----------------------------------------------------------------------------------------------------------------------------------|
Common Stock |6/6/02|G |V|43,539 |D | |1,085,072 |D | |
-----------------------------------------------------------------------------------------------------------------------------------|
Common Stock |6/6/02|G |V|8,175 (1) |A | |13,796 |I |BY WIFE (2) |
-----------------------------------------------------------------------------------------------------------------------------------|
___________________________________________________________________________________________________________________________________|
___________________________________________________________________________________________________________________________________
Table II -- Derivative Securitites Acquired, Disposed of, or Beneficially Owned |
___________________________________________________________________________________________________________________________________|
1.Title of Derivative |2.Con- |3. |4. |5.Number of De |6.Date Exer|7.Title and Amount |8.Price|9.Number |10.|11.Nature of|
Security |version |Transaction | rivative Secu |cisable and| of Underlying |of Deri|of Deriva |Dir|Indirect |
|or Exer | | | rities Acqui |Expiration | Securities |vative |tive |ect|Beneficial |
|cise | | | red(A) or Dis |Date(Month/| |Secu |Securities |(D)|Ownership |
|Price of| | | posed of(D) |Day/Year) | |rity |Benefi |or | |
|Deriva- | | | |Date |Expir| | |ficially |Ind| |
|tive | | | | A/|Exer-|ation| Title and Number | |Owned at |ire| |
|Secu- | | | | | D |cisa-|Date | of Shares | |End of |ct | |
|rity |Date |Code|V| Amount | |ble | | | |Month |(I)| |
___________________________________________________________________________________________________________________________________|
Nonqualified Stock Opt|$5.5000 |6/4/0|M | |156,000 |D |2/1/9|4/15/|Common Stock|156,000| |0 (4) |D | |
ion | |2 | | | | |3 (3)|03 | | | | | | |
-----------------------------------------------------------------------------------------------------------------------------------|
Nonqualified Stock Opt|$5.5000 |6/4/0|M | |228,000 |D |2/1/9|4/15/|Common Stock|228,000| |0 (4) |D | |
ion | |2 | | | | |2 (5)|03 | | | | | | |
-----------------------------------------------------------------------------------------------------------------------------------|
Incentive Stock Option|$5.1667 |6/4/0|M | |38,700 |D |3/1/9|4/2/0|Common Stock|38,700 | |0 (4) |D | |
| |2 | | | | |6 (6)|6 | | | | | | |
-----------------------------------------------------------------------------------------------------------------------------------|
Incentive Stock Option|$4.7084 |6/4/0|M | |14,700 |D |3/1/9|3/3/0|Common Stock|14,700 | |0 (4) |D | |
| |2 | | | | |7 (7)|7 | | | | | | |
-----------------------------------------------------------------------------------------------------------------------------------|
| | | | | | | | | | | | | | |
___________________________________________________________________________________________________________________________________|
Explanation of Responses:
(1) Gift by Mr. Alsop to his wife.
(2) Mr. Alsop disclaims beneficial ownership of such shares.
(3) The option vests in equal monthly increments over a 48 month period
commencing February 1, 1993.
(4) All options were fully vested and exercised as of June 30,
2002.
(5) The option vests in equal monthly increments over a 48 month period
commencing February 1, 1992.
(6) The option vests in equal monthly increments over a 60 month period
commencing March 1, 1996, or sooner if accelerated vesting earnings per share
goals are achieved.
(7) The option vests in equal monthly increments over a 60 month period
commencing March 1, 1997.
SIGNATURE OF REPORTING PERSON
/s/ Joseph W. Alsop
DATE
July 3, 2002