Progressive Corp (PGR) director adds cash-settled phantom stock units
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Progressive Corp director Roger N. Farah reported an award of 67.7387 phantom stock units on 2026-07-10. These units were acquired through reinvestment of dividend equivalents, are tied 1-for-1 to Progressive common stock, and will be settled in cash at an elected time. Following this award, Farah holds 155,687.1925 phantom stock units directly.
Positive
- None.
Negative
- None.
Insider Trade Summary
1 transaction reported
Mixed
1 txn
Insider
FARAH ROGER N
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Phantom Stock Unit (rest. Stock) | 67.739 | $0.00 | -- |
Holdings After Transaction:
Phantom Stock Unit (rest. Stock) — 155,687.193 shares (Direct)
Footnotes (1)
- 1 for 1 These units, which were 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 plan. Expiration Date is the same as the Date Exercisable.
Key Figures
Phantom stock units awarded: 67.7387 units
Total phantom units after award: 155,687.1925 units
Unit-to-share ratio: 1 for 1
3 metrics
Phantom stock units awarded
67.7387 units
Grant/award acquisition on 2026-07-10 via reinvested dividend equivalents
Total phantom units after award
155,687.1925 units
Director’s direct phantom stock unit holdings following the reported transaction
Unit-to-share ratio
1 for 1
Each phantom stock unit is tied 1-for-1 to Progressive common stock
Key Terms
Phantom Stock Unit, dividend equivalents, Expiration Date
3 terms
Phantom Stock Unit financial
"Phantom Stock Unit (rest. Stock)"
dividend equivalents financial
"acquired upon the reinvestment of dividend equivalents"
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.
Expiration Date financial
"Expiration Date is the same as the Date Exercisable"
The expiration date is the deadline after which a financial contract, such as an option or a futures agreement, is no longer valid or can be exercised. It matters to investors because it determines the timeframe during which they can take action or benefit from the contract, similar to how a coupon or a food item has a limited period of usefulness. Once the expiration date passes, the contract loses its value or ability to be used.
FAQ
What insider transaction did Progressive Corp (PGR) report for Roger N. Farah?
Progressive Corp (PGR) reported that director Roger N. Farah received an award of 67.7387 phantom stock units on 2026-07-10. The award reflects reinvested dividend equivalents rather than an open-market stock purchase or sale, and is part of his ongoing director compensation.
How many phantom stock units does Roger N. Farah now hold at Progressive (PGR)?
After the latest award, Roger N. Farah holds 155,687.1925 phantom stock units tied to Progressive (PGR) common stock. These units are cash-settled according to his elections under the plan, giving him a compensation-linked economic interest rather than direct ownership of common shares.
What exactly are the phantom stock units reported in this PGR Form 4?
The filing shows an award of Phantom Stock Units, described as restricted stock units linked 1-for-1 to Progressive common shares. They were acquired through reinvestment of dividend equivalents and will be paid out in cash at a time elected by the reporting person under the plan.
Did the Progressive (PGR) Form 4 for Roger N. Farah involve any stock sales or purchases?
No market stock sales or purchases were reported for Roger N. Farah in this Progressive (PGR) Form 4. The single transaction is an acquisition via grant of 67.7387 phantom stock units resulting from dividend equivalent reinvestment, a non-market compensation event rather than trading activity.
How are the phantom stock units in the Progressive (PGR) filing settled?
The phantom stock units are settled in cash, not in actual Progressive (PGR) shares. According to the disclosure, they will be paid out at the time elected by the reporting person, or at another time determined in accordance with the applicable compensation plan’s terms.