Progressive (PGR) director granted 1,238 restricted shares as 2026–2027 pay
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Burgdoerfer Stuart B reported acquisition or exercise transactions in this Form 4 filing.
Progressive Corp director Stuart B. Burgdoerfer reported a compensation-related stock grant rather than an open-market trade. He received 1,238 shares of common stock as a restricted stock award for the 2026–2027 director term, bringing his direct holdings to 13,455 shares.
The restricted stock grant was made under The Progressive Corporation Amended and Restated 2017 Directors Equity Incentive Plan and will vest on April 9, 2027. For this board term, 60% of his compensation is in restricted stock and 40% is in cash, with the cash portion payable on April 9, 2027.
Positive
- None.
Negative
- None.
Insider Trade Summary
2 transactions reported
Mixed
2 txns
Insider
Burgdoerfer Stuart B
Role
null
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common | 1,238 | $0.00 | -- |
| holding | Common | -- | -- | -- |
Holdings After Transaction:
Common — 13,455 shares (Direct, null);
Common — 11 shares (Indirect, By Spouse)
Footnotes (1)
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Key Figures
Restricted shares granted: 1,238 shares
Shares after grant: 13,455 shares
Indirect spouse holdings: 11 shares
+3 more
6 metrics
Restricted shares granted
1,238 shares
Restricted stock grant for 2026–2027 director term
Shares after grant
13,455 shares
Total Progressive common shares directly held after grant
Indirect spouse holdings
11 shares
Progressive common shares held indirectly by spouse
Grant vesting date
April 9, 2027
Vesting date of restricted stock grant
Compensation mix
60% stock / 40% cash
Director compensation structure for 2026–2027 term
Grant price per share
$0.00 per share
Stated price for restricted stock grant (compensation award)
Key Terms
Restricted stock grant, Amended and Restated 2017 Directors Equity Incentive Plan, restricted stock award, Compensation and Talent Committee
4 terms
Restricted stock grant financial
"Restricted stock grant made pursuant to The Progressive Corporation Amended and Restated 2017 Directors Equity Incentive Plan"
A restricted stock grant is an award of company shares given to an employee or executive that cannot be sold or transferred until certain conditions are met, such as staying with the company for a set time or hitting performance goals. For investors, it signals how the company ties pay to future performance and can affect the number of shares outstanding and management’s incentives—think of it as a wrapped gift you only keep once you meet the requirements.
Amended and Restated 2017 Directors Equity Incentive Plan financial
"Restricted stock grant made pursuant to The Progressive Corporation Amended and Restated 2017 Directors Equity Incentive Plan"
restricted stock award financial
"the Compensation and Talent Committee granted a restricted stock award representing 60% of the reporting person's compensation"
A restricted stock award is company shares given to an employee or executive that cannot be sold or fully owned until certain conditions—like staying with the company for a set time or hitting performance targets—are met. Think of it as a gift that only becomes yours after you fulfill specific obligations; for investors, these awards matter because they can increase the total shares outstanding when they vest, reveal how management is being paid and motivated, and create potential selling pressure when restrictions lift.
Compensation and Talent Committee financial
"the Compensation and Talent Committee granted a restricted stock award representing 60% of the reporting person's compensation"
FAQ
What insider transaction did Progressive (PGR) director Stuart Burgdoerfer report?
Stuart Burgdoerfer reported receiving 1,238 shares of Progressive common stock as a restricted stock grant for his 2026–2027 director term, rather than buying shares in the open market. This grant increased his directly held shares to 13,455 according to the filing.
Is the Stuart Burgdoerfer Form 4 for Progressive (PGR) an open-market buy or compensation grant?
The Form 4 reflects a compensation grant, not an open-market purchase. Burgdoerfer received 1,238 restricted shares at a stated price of $0.00 per share under Progressive’s directors equity incentive plan for his 2026–2027 board service.
How is Progressive (PGR) director compensation structured in this Form 4 disclosure?
For the 2026–2027 term, Progressive allowed directors to choose 100% restricted stock or 60% stock and 40% cash. Burgdoerfer chose 60% stock and 40% cash, resulting in a 1,238-share restricted stock grant plus a scheduled cash payment on April 9, 2027.