Dividend-based RSU award to Progressive (NYSE: PGR) executive
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Bailo Karen reported acquisition or exercise transactions in this Form 4 filing.
Commercial Lines President Karen Bailo of Progressive Corp (PGR) received a grant of 6.2750 restricted stock units on July 10, 2026 through reinvested dividend equivalents. Each unit represents one common share and will vest with the related RSUs, bringing her direct RSU holdings to 14423.6290 units.
Positive
- None.
Negative
- None.
Insider Trade Summary
1 transaction reported
Mixed
1 txn
Insider
Bailo Karen
Role
Commercial Lines President
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Restricted Stock Unit | 6.275 | $0.00 | -- |
Holdings After Transaction:
Restricted Stock Unit — 14,423.629 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: 6.2750 units
RSU holdings after transaction: 14423.6290 units
Grant price per unit: $0.0000
+1 more
4 metrics
RSUs granted
6.2750 units
Restricted Stock Units acquired on July 10, 2026 via dividend-equivalent reinvestment
RSU holdings after transaction
14423.6290 units
Direct restricted stock unit position following the July 10, 2026 grant
Grant price per unit
$0.0000
Compensation-related award, not an open-market purchase
Transaction date
2026-07-10
Date of restricted stock unit acquisition by dividend equivalents
Key Terms
Restricted Stock Unit, dividend equivalents, contingent right
3 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"
FAQ
What insider transaction did Progressive (PGR) executive Karen Bailo report on this Form 4?
Karen Bailo reported an acquisition of 6.2750 restricted stock units on July 10, 2026. The units were credited through reinvested dividend equivalents and will vest at the same time as the related restricted stock unit awards.
How many restricted stock units does Karen Bailo hold in Progressive (PGR) after this transaction?
After the reported transaction, Karen Bailo directly holds 14423.6290 restricted stock units. This total reflects the addition of 6.2750 units acquired through dividend-equivalent reinvestment in connection with existing restricted stock unit awards.
Were Karen Bailo’s Progressive (PGR) restricted stock units bought on the open market?
No. The 6.2750 restricted stock units were acquired at a price of $0.0000 per unit. They represent a compensation-related credit from reinvested dividend equivalents, not an open-market purchase of Progressive common shares.
What does each Restricted Stock Unit represent for Progressive (PGR) in Karen Bailo’s award?
Each Restricted Stock Unit represents a contingent right to receive one common share of Progressive’s stock. The RSUs convert into common shares only upon vesting, in accordance with the award’s terms and schedule.
How are dividend equivalents handled in Karen Bailo’s Progressive (PGR) RSU award?
Dividend equivalents on existing RSUs were reinvested into 6.2750 additional units. These new restricted stock units will vest at the same time and under the same conditions as the underlying restricted stock units to which they relate.