Progressive Corp (NYSE: PGR) CAO granted dividend RSU units
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Progressive Corp Chief Accounting Officer Carl G. Joyce received a grant of 0.9800 restricted stock units, acquired through the reinvestment of dividend equivalents. Each unit represents a contingent right to one common share, and these additional units will vest on the same schedule as the related RSU awards, bringing his direct RSU holdings to 2,250.3890.
Positive
- None.
Negative
- None.
Insider Trade Summary
1 transaction reported
Mixed
1 txn
Insider
Joyce Carl G
Role
Chief Accounting Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Restricted Stock Unit | 0.98 | $0.00 | -- |
Holdings After Transaction:
Restricted Stock Unit — 2,250.389 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: 0.9800 units
Total RSUs after transaction: 2,250.3890 units
Grant price per unit: $0.0000
3 metrics
RSUs granted
0.9800 units
Restricted stock units acquired via dividend equivalents on 2026-07-10
Total RSUs after transaction
2,250.3890 units
Direct RSU holdings of Carl G. Joyce following the grant
Grant price per unit
$0.0000
Compensation-related award with no cash paid by the insider
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
"acquired upon the reinvestment of dividend equivalents, will vest at the same time"
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
"represents a contingent right to receive one Common Share of the Company's stock"
FAQ
What insider transaction did Progressive (PGR) report for Carl G. Joyce?
Progressive (PGR) disclosed that Chief Accounting Officer Carl G. Joyce received 0.9800 additional restricted stock units. These units were granted through dividend-equivalent reinvestment as part of equity compensation, rather than through any open-market purchase or sale of Progressive common shares.
How many restricted stock units does Carl G. Joyce hold after this PGR transaction?
Following the transaction, Carl G. Joyce directly holds 2,250.3890 restricted stock units. These RSUs represent his accumulated equity awards, including the new 0.9800 units received via dividend equivalents, and will convert into Progressive common shares as and when they vest.
What does each Restricted Stock Unit represent for Progressive (PGR)?
Each Restricted Stock Unit represents a contingent right to receive one Progressive common share. Joyce will only receive the underlying shares if the RSUs vest under their terms, aligning his compensation with the company’s long-term stock performance and service conditions.
How were Carl G. Joyce’s new RSUs at Progressive (PGR) obtained?
The additional 0.9800 RSUs were acquired through the reinvestment of dividend equivalents. Instead of paying cash dividends on unvested RSUs, Progressive credited equivalent value as additional units, increasing Joyce’s potential future share delivery when the RSUs vest.
When will Carl G. Joyce’s new RSUs at Progressive (PGR) vest?
The newly credited RSUs will vest at the same time as the Restricted Stock Units to which they relate. This means the dividend-equivalent units follow the original awards’ vesting schedule, keeping the timing of share delivery aligned across the entire RSU grant.