Progressive CSO discloses initial insider holdings
Progressive Corp (PGR) Chief Strategy Officer Daniel J. Witalec has reported his initial equity holdings as an insider.
Rhea-AI Filing Summary
Progressive Corp (PGR) Chief Strategy Officer Daniel J. Witalec has reported his initial equity holdings as an insider. The filing shows direct ownership of 4,485.745 time-based restricted stock units tied to Progressive common shares and 2,449.926 common shares held directly.
The restricted stock units were granted between 2022 and 2026 and include accrued dividend equivalents. They vest in roughly three equal annual installments starting the third January after each grant, with specific tranches scheduled to vest from January 2027 through January 2031, each unit representing a contingent right to receive one common share.
Positive
- None.
Negative
- None.
Insider Trade Summary
2 transactions reported
Mixed
2 txns
Insider
WITALEC DANIEL J
Role
Chief Strategy Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| holding | Restricted Stock Unit | -- | -- | -- |
| holding | Common | -- | -- | -- |
Holdings After Transaction:
Restricted Stock Unit — 4,485.745 contracts (Direct);
Common — 2,449.926 shares (Direct)
Footnotes (3)
- F1. Represents time-based restricted stock units granted to the reporting person by the issuer between 2022 and 2026 plus accrued dividend equivalents since the grant date. Subject to the terms of the applicable plan and award agreements, each award vests in three roughly equal installments in the third, fourth and fifth January following the date of grant, subject to earlier vesting or forfeiture in accordance with the plan and the award agreement. The following number of units are scheduled to vest on the following dates: 1/19/2027 - 1,452.959; 1/18/2028 - 1,114.255; 1/16/2029 - 961.281; 1/15/2030 - 611.25; and 1/21/2031 - 346.
- F2. Expiration Date is the same as the Date Exercisable.
- F3. Each Restricted Stock Unit represents a contingent right to receive one Common Share of the Company's stock.
Key Figures
Restricted stock units: 4,485.745 units
Common shares directly owned: 2,449.926 shares
Scheduled vest 1/19/2027: 1,452.959 units
+4 more
7 metrics
Restricted stock units
4,485.745 units
Time-based RSUs granted 2022–2026, underlying common shares
Common shares directly owned
2,449.926 shares
Direct ownership after reported holdings
Scheduled vest 1/19/2027
1,452.959 units
RSUs scheduled to vest January 19, 2027
Scheduled vest 1/18/2028
1,114.255 units
RSUs scheduled to vest January 18, 2028
Scheduled vest 1/16/2029
961.281 units
RSUs scheduled to vest January 16, 2029
Scheduled vest 1/15/2030
611.25 units
RSUs scheduled to vest January 15, 2030
Scheduled vest 1/21/2031
346 units
RSUs scheduled to vest January 21, 2031
Key Terms
Restricted Stock Unit, dividend equivalents, vests in three roughly equal installments, contingent right
4 terms
Restricted Stock Unit financial
"Represents time-based restricted stock units granted to the reporting person"
A restricted stock unit is a promise from a company to give an employee shares of stock after certain conditions are met, like staying with the company for a set amount of time. It’s like earning a bonus that turns into company stock once you’ve proven your commitment, making it a way to motivate and reward employees.
dividend equivalents financial
"plus accrued dividend equivalents since the grant date"
Payments tied to employee or contractor equity awards that mirror the cash dividends paid on the company’s stock; they give the holder the same economic benefit as owning the shares without transferring actual shares—often paid in cash or additional award units when the award becomes payable. Investors care because these payments affect a company’s compensation costs, cash flow and potential share dilution, and they signal how management is being rewarded and aligned with shareholders.
vests in three roughly equal installments financial
"each award vests in three roughly equal installments"
contingent right financial
"Each Restricted Stock Unit represents a contingent right to receive one Common Share"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What does the Form 3 filing by Progressive (PGR) executive Daniel J. Witalec show?
The Form 3 shows Daniel J. Witalec’s initial insider holdings at Progressive, including 4,485.745 time-based restricted stock units and 2,449.926 common shares held directly. It establishes his baseline equity position as Chief Strategy Officer for future insider transaction reporting.
How many restricted stock units does Progressive (PGR) executive Daniel J. Witalec hold?
Daniel J. Witalec holds 4,485.745 restricted stock units linked to Progressive common shares. These units were granted between 2022 and 2026, include accrued dividend equivalents, and vest over multiple future January dates under the company’s equity incentive plan and award agreements.
How do Daniel J. Witalec’s Progressive (PGR) restricted stock units vest over time?
His restricted stock units vest in three roughly equal installments beginning the third January after each grant. Specific scheduled vesting includes tranches on January 19, 2027, January 18, 2028, January 16, 2029, January 15, 2030, and January 21, 2031, subject to plan terms.
What does each restricted stock unit represent for Progressive (PGR) executive Daniel J. Witalec?
Each restricted stock unit represents a contingent right to receive one Progressive common share. Delivery depends on satisfying vesting conditions under the applicable equity plan and award agreements, including time-based service requirements and any earlier vesting or forfeiture provisions described in those documents.
AI-generated analysis. How Rhea-AI works. Not financial advice.
