X0202 4 2007-07-24 0 0001050180 PHASE FORWARD INC PFWD 0001296504 Powell Stephen John C/O PHASE FORWARD INCORPORATED 880 WINTER STREET WALTHAM MA 02451 0 1 0 0 S.V.P., Worldwide Sales Common Stock 2007-07-24 4 M 0 5000 6.30 A 60000 D Common Stock 2007-07-24 4 M 0 5000 6.62 A 60000 D Common Stock 2007-07-24 4 S 0 10000 16.3254 D 60000 D Common Stock (Right to Buy) 6.30 2007-07-24 4 M 0 5000 6.30 D 2006-12-31 2015-02-16 Common Stock 5000 5000 D Common Stock (Right to Buy) 6.62 2007-07-24 4 M 0 5000 6.62 D 2006-03-07 2015-03-07 Common Stock 5000 33334 D The sale(s) reported on this form were made pursuant to a written trading plan adopted in accordance with SEC Rule 10b5-1 on February 10, 2006. This number reflects the number of securities beneficially owned after taking into account all of the reported transactions. This option vests, in full, upon the earlier of seven years, and, in part, upon the attainment of specified milestones and became exercisable on the date listed in the table. This option is exercisable and vests over four years at the rate of 25% on the date listed in the table, and the balance vesting in equal monthly installments over the remaining 36 months. By: /s/ D. Ari Buchler, attorney-in-fact for Stephen John Powell 2007-07-26