X0202 4 2005-12-01 0 0001050180 PHASE FORWARD INC PFWD 0001296500 Bleicher Paul A C/O PHASE FORWARD INCORPORATED 880 WINTER STREET WALTHAM MA 02451 1 1 0 0 Chrmn, Chief Strategy Officer Common Stock 2005-12-01 4 S 0 5000 10.42 D 725753 D Common Stock 2005-12-02 4 S 0 5000 10.09 D 725753 D Common Stock 66502 I By Family Trust The sale(s) reported on this form were made pursuant to a written trading plan adopted in accordance with SEC Rule 10b5-1 on September 2, 2005. These shares are held by the Paul A. Bleicher 1999 Irrevocable Trust, a trust for the benefit of members of his family. The reporting person disclaims beneficial ownership of the shares held by his family trust, and this report should not be deemed an admission that the reporting person is the beneficial owner of his family trust's shares for purposes of Section 16 or for any other purpose. This number reflects the number of securities beneficially owned after taking into account all of the reported transactions. /s/ Paul A. Bleicher 2005-12-05