Progressive (NYSE: PGR) CRM president receives RSUs via dividend equivalents
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Progressive Corp. reported that CRM President Heather E. Day acquired 1.8030 Restricted Stock Units on 2026-07-10. Each unit represents a contingent right to receive one common share. The units were acquired through the reinvestment of dividend equivalents and will vest at the same time as the related Restricted Stock Units. Following this grant, Day directly holds a total of 4,144.9360 Restricted Stock Units.
Positive
- None.
Negative
- None.
Insider Trade Summary
1 transaction reported
Mixed
1 txn
Insider
DAY HEATHER E
Role
CRM President
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Restricted Stock Unit | 1.803 | $0.00 | -- |
Holdings After Transaction:
Restricted Stock Unit — 4,144.936 shares (Direct)
Footnotes (1)
- Each Restricted Stock Unit represents a contingent right to receive one Common Share of the Company's stock. These units, which were acquired upon the reinvestment of dividend equivalents, will vest at the same time as the Restricted Stock Units to which they relate. Expiration Date is the same as the Date Exercisable.
Key Figures
RSUs granted: 1.8030 units
Price per RSU: $0.0000
RSUs held after transaction: 4,144.9360 units
+1 more
4 metrics
RSUs granted
1.8030 units
Restricted Stock Units acquired via dividend equivalent reinvestment on 2026-07-10
Price per RSU
$0.0000
Grant/award acquisition of derivative Restricted Stock Units
RSUs held after transaction
4,144.9360 units
Total direct Restricted Stock Units held by Heather E. Day following the grant
Derivative transactions reported
1
Single derivative-type transaction (RSU award) reported in this Form 4
Key Terms
Restricted Stock Unit, dividend equivalents, contingent right, derivative transaction
4 terms
Restricted Stock Unit financial
"Each Restricted Stock Unit represents a contingent right to receive one Common Share"
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
"These units, which were acquired upon the reinvestment of dividend equivalents, will vest"
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.
contingent right financial
"Each Restricted Stock Unit represents a contingent right to receive one Common Share"
derivative transaction financial
"It is categorized as a derivative transaction with a per-unit price of $0.0000"
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What did Progressive (PGR) CRM President Heather E. Day report in this Form 4?
Heather E. Day reported acquiring 1.8030 Restricted Stock Units in Progressive stock. These derivative awards were received via dividend equivalent reinvestment and each unit represents a right to one common share, subject to vesting conditions aligned with related RSUs.
How many Progressive (PGR) Restricted Stock Units does Heather E. Day hold after the transaction?
After the reported transaction, Heather E. Day directly holds 4,144.9360 Restricted Stock Units. These units represent contingent rights to receive an equivalent number of Progressive common shares, subject to the applicable vesting schedule for the underlying RSU awards.
Was Heather E. Day’s Form 4 transaction in Progressive (PGR) an open-market buy or a grant?
The transaction was a grant/award acquisition of 1.8030 Restricted Stock Units, not an open-market purchase. It is categorized as a derivative transaction with a per-unit price of $0.0000, reflecting a non-market equity award structure.
What does each Restricted Stock Unit reported by Heather E. Day in Progressive (PGR) represent?
Each Restricted Stock Unit reported by Heather E. Day represents a contingent right to receive one Progressive common share. Actual share delivery depends on satisfying vesting conditions tied to the underlying RSU awards referenced in the footnotes.
How were the new Progressive (PGR) Restricted Stock Units acquired by Heather E. Day generated?
The 1.8030 new units were acquired through reinvestment of dividend equivalents. When Progressive pays dividends, equivalent amounts are credited as additional RSUs, which then vest on the same schedule as the original related Restricted Stock Unit awards.
When will the newly acquired Progressive (PGR) RSUs held by Heather E. Day vest?
The newly acquired 1.8030 Restricted Stock Units will vest at the same time as the related RSUs. Their vesting schedule is therefore synchronized with the original Restricted Stock Unit grants to which these dividend-equivalent units are linked.