Progressive director granted phantom stock units

Progressive Corp. (PGR) director Charles A. Davis reported compensation-related acquisitions of phantom stock units tied to common shares.

Accepted by SEC EDGAR 07/14/2026 - 11:32 AM EDT Learn about SEC filing dates

Rhea-AI Filing Summary

Progressive Corp. (PGR) director Charles A. Davis reported compensation-related acquisitions of phantom stock units tied to common shares. On 2026-07-10 he received 9.5378 Phantom Stock Unit (restricted stock) and 2.1934 Phantom Stock Units through reinvested dividend equivalents, each on a 1-for-1 basis with common stock and payable in cash at a future time under the plan.

Insider Trade Summary

Grant/Award: 11.7312 shares

Grant/Award 2 txns

Insider DAVIS CHARLES A

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Phantom Stock Units F1, F2, F3	2.1934	$0.00	$0.00
Grant/Award	Phantom Stock Unit (rest. Stock) F1, F2, F3	9.5378	$0.00	$0.00

Holdings After Transaction: Phantom Stock Units — 5,041.148 contracts (Direct); Phantom Stock Unit (rest. Stock) — 21,921.1309 contracts (Direct)

Holdings Before and After: Phantom Stock Units, 5,038.9546 to 5,041.148 contracts (Direct); Phantom Stock Unit (rest. Stock), 21,911.5931 to 21,921.1309 contracts (Direct)

Footnotes (3)

1. F1. 1 for 1
2. F2. 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.
3. F3. Expiration Date is the same as the Date Exercisable.

Key Figures

Restricted Phantom Stock Units Acquired: 9.5378 units Other Phantom Stock Units Acquired: 2.1934 units Restricted Phantom Units After Transaction: 21,921.1309 units +2 more

5 metrics

Restricted Phantom Stock Units Acquired 9.5378 units Phantom Stock Unit (rest. Stock) grant on 2026-07-10

Other Phantom Stock Units Acquired 2.1934 units Phantom Stock Units grant on 2026-07-10

Restricted Phantom Units After Transaction 21,921.1309 units Total Phantom Stock Unit (rest. Stock) holdings following 2026-07-10 grant

Other Phantom Units After Transaction 5,041.1480 units Total Phantom Stock Units holdings following 2026-07-10 grant

Unit-to-Share Ratio 1 for 1 Each phantom stock unit tracks one share of Progressive common stock

Key Terms

Phantom Stock Unit, dividend equivalents, Grant, award, or other acquisition

3 terms

Phantom Stock Unit financial

"Security title reported as "Phantom Stock Unit (rest. Stock)" and "Phantom Stock Units""

dividend equivalents financial

"Units were acquired upon the reinvestment of dividend equivalents under the plan"

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.

Grant, award, or other acquisition financial

"Transaction code A is described as Grant, award, or other acquisition"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transaction did Progressive (PGR) director Charles A. Davis report?

Charles A. Davis reported compensation-related grants of phantom stock units on 2026-07-10. He acquired 9.5378 restricted Phantom Stock Units and 2.1934 Phantom Stock Units, each tracking one share of Progressive common stock, with payout in cash under the plan.

How many phantom stock units did Charles A. Davis acquire in the latest PGR Form 4?

He acquired 11.7312 phantom stock units in total: 9.5378 Phantom Stock Unit (restricted stock) and 2.1934 Phantom Stock Units. Both awards stem from dividend equivalent reinvestment and are linked 1-for-1 to Progressive common shares for value tracking.

Are the Progressive (PGR) phantom stock units received by Charles A. Davis settled in stock or cash?

The phantom stock units will be paid out in cash. They were acquired through reinvested dividend equivalents and will be settled at a time elected by Charles A. Davis or as otherwise specified under the applicable compensation plan.

What are Charles A. Davis’s phantom stock unit holdings in PGR after these transactions?

After the transactions, he holds 21,921.1309 Phantom Stock Unit (restricted stock) and 5,041.1480 Phantom Stock Units. These balances reflect his accumulated compensation units, which track Progressive common stock value and are ultimately payable in cash under plan terms.

Were the Progressive (PGR) Form 4 transactions open-market buys or sells?

No. The Form 4 reports grant/award acquisitions coded “A,” not open-market purchases or sales. The units arose from the reinvestment of dividend equivalents within a compensation plan rather than discretionary trading in Progressive common stock.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

DAVIS CHARLES A

(Last) (First) (Middle)

300 NORTH COMMONS BLVD.

(Street)

MAYFIELD VILLAGE OHIO 44143

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
PROGRESSIVE CORP/OH/ [ PGR ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
07/10/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Phantom Stock Units	(1)	07/10/2026		A		2.1934		(2)	(3)	Common	2.1934	$0	5,041.148	D
Phantom Stock Unit (rest. Stock)	(1)	07/10/2026		A		9.5378		(2)	(3)	Common	9.5378	$0	21,921.1309	D

Explanation of Responses:

1. 1 for 1

2. 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.

3. Expiration Date is the same as the Date Exercisable.

	/s/ Allyson L. Bach, By Power of Attorney	07/14/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)