Progressive director logs routine equity plan transactions
Progressive Corp director Barbara R. Snyder reported routine equity compensation-related transactions.
Accepted by SEC EDGAR
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Form Type
4
Rhea-AI Filing Summary
Progressive Corp director Barbara R. Snyder reported routine equity compensation-related transactions. She exercised phantom stock units to receive 824.7187 Common Shares at a conversion price of $0.00 per share, under a 1-for-1 director deferral plan. She also disposed of 106.7187 Common Shares back to the issuer at $219.88 per share. Following these transactions, she directly holds 13,193.479 Common Shares and 21,584.707 phantom stock units, with dividend-equivalent units paid in cash under the plan.
Insider Trade Summary
824.7187 shares exercised/converted
Exercise
3 txns
Insider
Snyder Barbara R
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Phantom Stock Unit (rest. Stock) | 824.7187 | $0.00 | $0.00 |
| Exercise | Common | 824.7187 | $0.00 | $0.00 |
| Disposition | Common | 106.7187 | $219.88 | $23K |
Holdings After Transaction:
Phantom Stock Unit (rest. Stock) — 21,584.707 contracts (Direct);
Common — 13,193.479 shares (Direct)
Holdings Before and After:
Phantom Stock Unit (rest. Stock), 22,409.4257 to 21,584.707 contracts (Direct);
Common, 12,475.479 to 13,193.479 shares (Direct)
Footnotes (4)
- F1. Reflects a distribution under a director deferral plan pursuant to previously made elections. In accordance with the plan, the restricted shares originally deferred were distributed in the form of Common Shares and all related dividend equivalent units were distributed in the form of cash.
- F2. 1 for 1
- F3. Units deferred from restricted Common Shares upon vesting will be distributed in an equivalent number of Common Shares at the time elected by the reporting person or at such other time determined in accordance with the deferral plan. Units acquired upon the reinvestment of dividend equivalents will be paid out in cash at the time elected by the reporting person or at such other time determined in accordance with the deferral plan.
- F4. Expiration Date is the same as the Date Exercisable.
Key Figures
Shares disposed to issuer: 106.7187 shares
Disposition price: $219.88 per share
Common Shares acquired via exercise: 824.7187 shares
+4 more
7 metrics
Shares disposed to issuer
106.7187 shares
Common Shares, disposition to issuer at $219.88 per share on 2026-07-01
Disposition price
$219.88 per share
Price for 106.7187 Common Shares returned to issuer
Common Shares acquired via exercise
824.7187 shares
Common Shares received from phantom stock unit exercise at $0.00 conversion price
Conversion price of phantom units
$0.00 per share
Exercise or conversion price for phantom stock units into Common Shares
Common Shares held after transactions
13,193.479 shares
Direct ownership of Common Shares following reported Form 4 transactions
Phantom stock units held after exercise
21,584.707 units
Remaining phantom stock units under director deferral plan after conversion event
Exercise events
1 derivative exercise, 824.7187 shares
Summary of derivative exercise activity in transactionSummary
Key Terms
Phantom Stock Unit (rest. Stock), director deferral plan, dividend equivalent units, Exercise or conversion of derivative security, +2 more
6 terms
Phantom Stock Unit (rest. Stock) financial
"security_title: "Phantom Stock Unit (rest. Stock)""
director deferral plan financial
"Reflects a distribution under a director deferral plan pursuant to previously made elections."
A director deferral plan lets board members delay receiving part or all of their pay—typically fees or equity—until a later date, with the deferred amount converted to cash or units that are paid out on a set future date or event. For investors, it signals how a company manages present cash flow and aligns directors’ interests with long-term performance, while creating future payment obligations or possible share dilution when those deferred amounts are settled—like choosing to take a future pension or stock grant instead of a paycheck today.
dividend equivalent units financial
"all related dividend equivalent units were distributed in the form of cash."
Dividend equivalent units are bookkeeping credits that mirror cash dividends paid on actual shares, granted to holders of stock-based awards such as restricted stock units or deferred compensation. They matter to investors because they increase a company’s reported employee compensation cost and can lead to issuance of more shares or cash payouts over time, similar to extra pay linked to ownership that affects shareholder dilution and corporate cash flow.
Exercise or conversion of derivative security financial
"transaction_code_description: "Exercise or conversion of derivative security""
Disposition to issuer financial
"transaction_code_description: "Disposition to issuer""
1 for 1 financial
"1 for 1"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transactions did Progressive (PGR) director Barbara Snyder report?
Barbara Snyder reported exercising phantom stock units into 824.7187 Common Shares and disposing of 106.7187 Common Shares back to the issuer. These actions occurred under a director deferral plan and reflect routine equity compensation administration rather than open-market buying or selling activity.
What is the nature of the phantom stock units reported by Progressive (PGR) director Snyder?
The phantom stock units represent deferred restricted Common Shares under a director deferral plan, convertible into Common Shares on a 1-for-1 basis. Related dividend equivalent units are paid out in cash when distributions occur, based on elections made by the reporting director under the plan.
Was Barbara Snyder’s Progressive (PGR) Form 4 an open-market stock sale?
No, the Form 4 shows a disposition of 106.7187 Common Shares to the issuer and exercises of phantom stock units. The transactions relate to a director deferral and equity compensation plan, not open-market purchases or sales on a securities exchange by the reporting director.
AI-generated analysis. How Rhea-AI works. Not financial advice.
