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  4. [Form 3] Progressive Corporation Initial Statement of Beneficial Ownership

Progressive Strengthens Executive Team with New Marketing Chief Appointment

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
3

Rhea-AI Filing Summary

Progressive Corporation (PGR) has filed a Form 3 reporting the initial beneficial ownership of securities for Maribel Pumarejo, who has been appointed as Chief Marketing Officer. The filing date is June 28, 2025, with the event date being June 15, 2025.

Key ownership details:

  • Non-Derivative Securities: Owns 1,027.407 shares of common stock indirectly through a 401(k) Plan
  • Derivative Securities: Holds 4,481.07 Restricted Stock Units (RSUs) with scheduled vesting through 2030

The RSUs will vest in three approximately equal installments in the third, fourth, and fifth January following the grant date. Specific vesting schedule: 1,043.968 units (1/20/2026), 1,344.682 units (1/19/2027), 1,108.342 units (1/18/2028), 801.011 units (1/16/2029), and 183.067 units (1/15/2030). Each RSU represents a right to receive one Common Share upon vesting.

Positive

  • None.

Negative

  • None.
Insider Pumarejo Maribel
Role Chief Marketing Oficer
Type Security Shares Price Value
holding Restricted Stock Unit -- -- --
holding Common -- -- --
Holdings After Transaction: Restricted Stock Unit — 4,481.07 shares (Direct); Common — 1,027.407 shares (Indirect, 401(k) Plan)
Footnotes (1)
  1. Represents time-based restricted stock units granted to the reporting person by the issuer between 2021 and 2025 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: 1/20/2026 - 1,043.968; 1/19/2027 - 1,344.682; 1/18/2028 - 1,108.342; 1/16/2029 - 801.011; 1/15/2030 - 183.067. Expiration Date is the same as the Date Exercisable. Each Restricted Stock Unit represents a contingent right to receive one Common Share of the Company's stock.
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SEC Form 3
FORM 3 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
OMB APPROVAL
OMB Number: 3235-0104
Estimated average burden
hours per response: 0.5
1. Name and Address of Reporting Person*
Pumarejo Maribel
(Last) (First) (Middle)
300 NORTH COMMONS BLVD.
(Street)
MAYFIELD VILLAGE OH 44143
(City) (State) (Zip)
2. Date of Event Requiring Statement (Month/Day/Year)
06/15/2025 		3. Issuer Name and Ticker or Trading Symbol
PROGRESSIVE CORP/OH/ [ PGR ]
4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director 10% Owner
X Officer (give title below) Other (specify below)
Chief Marketing Oficer
5. If Amendment, Date of Original Filed (Month/Day/Year)
6. 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 Beneficially Owned
1. Title of Security (Instr. 4) 2. Amount of Securities Beneficially Owned (Instr. 4) 3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) 4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common 1,027.407 I 401(k) Plan
Table II - Derivative Securities Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4) 2. Date Exercisable and Expiration Date (Month/Day/Year) 3. Title and Amount of Securities Underlying Derivative Security (Instr. 4) 4. Conversion or Exercise Price of Derivative Security 5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) 6. Nature of Indirect Beneficial Ownership (Instr. 5)
Date Exercisable Expiration Date Title Amount or Number of Shares
Restricted Stock Unit (1) (2) Common 4,481.07 $0(3) D
Explanation of Responses:
1. Represents time-based restricted stock units granted to the reporting person by the issuer between 2021 and 2025 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: 1/20/2026 - 1,043.968; 1/19/2027 - 1,344.682; 1/18/2028 - 1,108.342; 1/16/2029 - 801.011; 1/15/2030 - 183.067.
2. Expiration Date is the same as the Date Exercisable.
3. Each Restricted Stock Unit represents a contingent right to receive one Common Share of the Company's stock.
/s/ Sarah R. D'Amore, By Power of Attorney 06/25/2025
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

Source: View Original Filing on SEC EDGAR

FAQ

Who is the new Chief Marketing Officer at Progressive (PGR)?

Maribel Pumarejo is the new Chief Marketing Officer at Progressive Corporation (PGR), as disclosed in a Form 3 filing dated June 28, 2025.

How many Progressive (PGR) shares does Maribel Pumarejo own directly and indirectly?

According to the Form 3 filing, Maribel Pumarejo owns 1,027.407 shares indirectly through a 401(k) Plan, and holds 4,481.07 restricted stock units (RSUs) directly.

What is the vesting schedule for Maribel Pumarejo's PGR restricted stock units?

The RSUs vest in three roughly equal installments in the third, fourth, and fifth January following the grant date. Specific vesting dates and amounts are: 1,043.968 units on 1/20/2026; 1,344.682 units on 1/19/2027; 1,108.342 units on 1/18/2028; 801.011 units on 1/16/2029; and 183.067 units on 1/15/2030.

What is the exercise price of PGR restricted stock units granted to Maribel Pumarejo?

The restricted stock units have an exercise price of $0, as each RSU represents a contingent right to receive one Common Share of Progressive Corporation's stock.