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FORM 4
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U.S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
/ / CHECK BOX IF NO
LONGER SUBJECT TO Filed pursuant to Section 16(a) of the Securities
SECTION 16. FORM 4 Exchange Act of 1934, Section 17(a) of the
OR FORM 5 OBLIGATIONS Public Utility Holding Company Act of 1935
MAY CONTINUE. SEE or Section 30(f) of the Investment Company
INSTRUCTION 1(b). Act of 1940
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1. Name and Address of Reporting Person* 2. Issuer Name and Ticker or Trading Symbol 6. Relationship of Reporting Person to
Benton, David H., Jr. Progress Software Corporation PRGS Issuer (Check all applicable)
- --------------------------------------------- ---------------------------------------------- Director 10% Owner
(Last) (First) (Middle) 3. IRS Identification 4. Statement for ---- ---
14 Oak Park Number of Reporting Month/Year X Officer (give Other (Specify
- --------------------------------------------- Person, if an Entity 12/31/2000 ---- title --- below)
(Street) (Voluntary) ------------------ below)
Bedford MA 01730 5. If Amendment, Vice President & Corporate Controller
- --------------------------------------------- Date of Original --------------------------------------
(City) (State) (Zip) (Month/Year)
USA 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 1 -- NON-DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
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1. Title of Security 2. Trans- 3. Transac- 4. Securities Acquired (A) 5. Amount of Se- 6. Owner- 7. Nature
(Instr. 3) action tion or Disposed of (D) curities Benefi- ship of In-
Date Code (Instr. 3, 4 and 5) cially Owned at Form: direct
(Instr. 8) End of Month Direct Benefi-
(Month/ (Instr. 3 and 4) (D) or cial
Day/ --------------------------------------- Indirect Owner-
Year) Code V Amount (A) or Price (I) ship
(D) (Instr. 4) (Instr.
4)
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Common Stock 4,301(1) D
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*If the Form is filed by more than one Reporting Person, see Instruction 4(b)(v).
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. (Over)
(Print or Type Response)
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FORM 4 (CONTINUED) TABLE II -- DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
(E.G., PUTS, CALLS, WARRANTS, OPTIONS, CONVERTIBLE SECURITIES)
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1. Title of Derivative 2. Conver- 3. Trans- 4. Trans- 5. Number of 6. Date Exer- 7. Title and Amount 8. Price
Security sion or action action Derivative cisable and of Underlying of
(Instr. 3) Exercise Date Code Securities Expiration Securities Deriv-
Price of (Month/ (Instr. Acquired (A) Date (Instr. 3 and 4) ative
Deriv- Day/ 8) or Disposed (Month/Day/ Secur-
ative Year) of (D) Year) ity
Security (Instr. 3, (Instr. 5)
4, and 5) ----------------------------------------
Date Expira- Amount or
---------------------------- Exer- tion Title Number of
Code V (A) (D) cisable Date Shares
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Incentive Stock Option $5.6667(2) 1/21/00 J(2) V 1,950(2) 7/01/94 6/21/04 Common Stock 1,950(2)
(3)
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Incentive Stock Option $7.2084(2) 1/21/00 J(2) V 2,640(2) 3/01/95 1/11/05 Common Stock 2,640(2)
(5)
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Incentive Stock Option $7.2084(2) 1/21/00 J(2) V 1,320(2) 3/01/95 5/12/05 Common Stock 1,320(2)
(5)
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Incentive Stock Option $4.5000(2) 1/21/00 J(2) V 5,500(2) 3/01/96 4/02/06 Common Stock 5,500(2)
(8)
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Incentive Stock Option $5.7934(2) 1/21/00 J(2) V 3,450(2) 1/01/97 12/3/06 Common Stock 3,450(2)
(10)
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Incentive Stock Option $4.7084(2) 1/21/00 J(2) V 6,000(2) 4/01/98 3/03/07 Common Stock 6,000(2)
(12)
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Incentive Stock Option $7.2084(2) 1/21/00 J(2) V 7,500(2) 3/01/98 2/03/08 Common Stock 7,500(2)
(14)
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Incentive Stock Option $12.8125(2) 1/21/00 J(2) V 4,800(2) 3/01/99 2/10/09 Common Stock 4,800(2)
(16)
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Incentive Stock Option $10.4688(2) 1/21/00 J(2) V 1,200(2) 3/01/99 5/17/09 Common Stock 1,200(2)
(16)
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Incentive Stock Option $19.2500 2/18/00 A V 9,300 3/01/00 2/18/10 Common Stock 9,300
(19)
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Nonqualified Stock Option $19.2500 2/18/00 A V 5,700 3/01/00 2/18/10 Common Stock 5,700
(19)
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Nonqualified Stock Option $12.0625 10/6/00 A V 15,000 10/6/00 10/6/10 Common Stock 15,000
(22)
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1. Title of Derivative 9. Number of 10. Ownership 11. Nature of
Security Derivative Form of Indirect
(Instr. 3) Securities Derivative Beneficial
Beneficially Security: Ownership
Owned at End Direct (D) (Instr. 4)
of Month or Indirect (I)
(Instr. 4) (Instr. 4)
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Incentive Stock Option 3,900(4) D
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Incentive Stock Option 5,280(6) D
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Incentive Stock Option 2,640(7) D
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Incentive Stock Option 11,000(9) D
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Incentive Stock Option 6,900(11) D
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Incentive Stock Option 12,000(13) D
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Incentive Stock Option 15,000(15) D
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Incentive Stock Option 9,600(17) D
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Incentive Stock Option 2,400(18) D
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Incentive Stock Option 9,300(20) D
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Nonqualified Stock Option 5,700(21) D
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Nonqualified Stock Option 15,000(23) D
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Explanation of Responses:
(1) On December 17, 1999, the Company declared a 2-for-1 stock split effected in
the form of a stock dividend payable to holders of record of common stock on
January 7, 2000. On the payment date, January 21, 2000, each holder of the
common stock of the Company received one additional share of common stock of the
Company for every share held. Table 1 reflects an adjustment to the number of
shares of common stock held by the reporting person as a result of the stock
split. It also includes purchases made in the last year pursuant to the Employee
Stock Purchase plan: 1,386 shares on 4/3/00, 665 shares on 7/3/00, and 134
shares on 10/2/00. (2) On the payment date of January 21, 2000, pursuant to the
anti-dilution provisions in the Company's stock option plans, each option
granted by the Company prior to January 7, 2000, was adjusted to reflect the
stock split effected in the form of a stock dividend. Each of the options
reported herein were previously reported. The adjustments in Table II involved
the price of each option, the number of shares underlying such options, and the
number of derivative securities beneficially owned at the end of the month. (3)
Options vest in equal monthly increments over a 72 month period commencing July
1, 1994. (4) On 12/31/2000, options to purchase 3,683 shares were vested. (5)
Options vest in equal monthly increments over a 48 month period commencing March
1, 1995. (6) On 12/31/2000, options to purchase 5,280 shares were vested. (7)
On 12/31/2000, options to purchase 2,640 shares were vested. (8) Options vest
in equal monthly increments over a 48 month period commencing March 1, 1996.
(9) On 12/31/2000, options to purchase 1,000 shares were vested. (10) Options
vest in equal monthly increments over a 48 month period commencing January 1,
1997. (11) On 12/31/2000, options to purchase 2,900 shares were vested. (12)
Options vest in equal monthly increments over a 48 month period commencing April
1, 1998. (13) On 12/31/2000, options to purchase 5,200 shares were vested.
(14) Options vest in equal monthly increments over a 60 month period commencing
March 1, 1998. (15) On 12/31/2000, options to purchase 8,500 shares were
vested. (16) Options vest in equal monthly increments over a 60 month period
commencing March 1, 1999. (17) On 12/31/2000, options to purchase 3,521 shares
were vested. (18) On 12/31/2000, options to purchase 880 shares were vested.
(19) Options vest in equal monthly increments over a 60 month period commencing
March 1, 2000. (20) On 12/31/2000, options to purchase 1,550 shares were
vested. (21) On 12/31/2000, options to purchase 950 shares were vested. (22)
The options vest on the date of grant with respect to eight-sixtieths of the
total amount, thereafter in equal monthly installments over a 52 month period
commencing November 1, 2000. (23) On 11/30/2000, options to purchase 2,500
shares were vested.
**Intentional misstatements or omissions of facts constitute Federal Criminal Violations. /s/ David H. Benton, Jr. 1/9/01
See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). ------------------------------- -------
**Signature of Reporting Person Date
/s/ David H. Benton, Jr.
Note. File three copies of this form, one of which must be manually signed. Page 2
If space provided is insufficient, see Instruction 6 for procedure.
Potential persons who are to respond to the collection of information contained in this form are not
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