Progressive Corp (NYSE: PGR) awards 29,852 shares to unit president
Rhea-AI Filing Summary
Progressive Corp executive Patrick K. Callahan, Personal Lines President, received a grant of 29,851.9 shares of common stock on July 24, 2026 at $0.00 per share upon vesting of performance-based restricted stock unit awards granted in 2023, including accrued dividend equivalents.
On the same date, 12,578 shares of common stock were withheld and disposed of at $211.90 per share to satisfy exercise-price or tax obligations. These transactions were not reported as made under a Rule 10b5-1 trading plan.
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Insights
Analyzing...
Insider Trade Summary
Net Buyer: 17,273.9 shares
Net Buy
2 txns
Insider
Callahan Patrick K
Role
Personal Lines President
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common F1 | 29,851.9 | $0.00 | $0.00 |
| Exercise Price or Tax Liability | Common | 12,578 | $211.90 | $2.67M |
Holdings After Transaction:
Common — 36,707.488 shares (Direct)
Footnotes (1)
- F1. These shares were issued pursuant to the vesting of performance-based restricted stock unit awards made in 2023, including dividend equivalents accrued since the grant date.
Key Figures
Shares granted: 29,851.9000 shares
Grant price: $0.0000 per share
Shares withheld for obligations: 12,578.0000 shares
+1 more
4 metrics
Shares granted
29,851.9000 shares
Common stock issued from performance-based RSU vesting on July 24, 2026
Grant price
$0.0000 per share
Price for common shares issued upon RSU vesting
Shares withheld for obligations
12,578.0000 shares
Code F disposition on July 24, 2026 for exercise-price or tax liability
Withholding transaction price
$211.9000 per share
Price used for shares delivered/withheld in the code F transaction
Key Terms
performance-based restricted stock unit awards, dividend equivalents, tax liability
3 terms
performance-based restricted stock unit awards financial
"vesting of performance-based restricted stock unit awards made in 2023"
dividend equivalents financial
"including dividend equivalents accrued since the grant date"
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.
tax liability financial
"Payment of exercise price or tax liability by delivering or withholding securities"
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What did Progressive (PGR) executive Patrick K. Callahan report in this Form 4?
Patrick K. Callahan reported a grant of 29,851.9 Progressive common shares from vesting 2023 performance-based RSUs, and the withholding of 12,578 shares at $211.90 per share to cover exercise-price or tax obligations.
Were Patrick K. Callahan’s PGR transactions under a Rule 10b5-1 trading plan?
No. The Form 4’s Rule 10b5-1 checkbox is not marked as a trading-plan transaction. The reported grant and the related share withholding were therefore not disclosed as occurring under a pre-arranged Rule 10b5-1 trading plan.
What type of equity awards vested for Patrick K. Callahan at Progressive (PGR)?
The grant reflects vesting of performance-based restricted stock unit awards originally made in 2023. The footnote states the issued shares also include dividend equivalents that accrued on those awards since the original grant date.