Progressive executive nets RSU shares, holds 19,433
Callahan Patrick K reported disposition transactions in this Form 4 filing.
Rhea-AI Filing Summary
Callahan Patrick K reported disposition transactions in this Form 4 filing.
Progressive Corp reports that Personal Lines President Patrick K. Callahan had restricted stock units vest on January 20, 2026, resulting in the issuance of 6,270.067 Common Shares, including dividend equivalent units. Each restricted stock unit represented a contingent right to receive one Common Share.
On the same date, 2,028 Common Shares were delivered to satisfy tax obligations at $201.32 per share. Following these transactions, Callahan directly holds 19,433.588 Common Shares of Progressive.
Positive
- None.
Negative
- None.
Insider Trade Summary
6,270.067 shares exercised/converted
Exercise
3 txns
Insider
Callahan Patrick K
Role
Personal Lines President
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Unit | 6,270.067 | $0.00 | $0.00 |
| Exercise | Common | 6,270.067 | $0.00 | $0.00 |
| Exercise Price or Tax Liability | Common | 2,028 | $201.32 | $408K |
Holdings After Transaction:
Restricted Stock Unit — 11,818.927 contracts (Direct);
Common — 19,433.588 shares (Direct)
Footnotes (4)
- F1. Represents Common Shares issued upon the vesting of restricted stock unit awards, including dividend equivalent units. This Form 4 reports the disposition of such restricted stock units in exchange for an equal number of Common Shares.
- F2. Each Restricted Stock Unit represents a contingent right to receive one Common Share of the Company's stock.
- F3. Units vested on January 20, 2026.
- F4. Expiration Date is the same as the Date Exercisable.
Key Figures
RSUs converted: 6,270.067 shares
Tax-withheld shares: 2,028 shares
Tax withholding price: $201.3200 per share
+1 more
4 metrics
RSUs converted
6,270.067 shares
Restricted Stock Units converted into Common Shares on January 20, 2026
Tax-withheld shares
2,028 shares
Common Shares delivered to satisfy tax obligations coded as F transaction
Tax withholding price
$201.3200 per share
Per-share value used for the tax-withholding disposition of 2,028 shares
Post-transaction holdings
19,433.588 Common Shares
Direct Common Share holdings of Patrick K. Callahan after the reported transactions
Key Terms
Restricted Stock Unit, dividend equivalent units, contingent right, tax-withholding disposition
4 terms
Restricted Stock Unit financial
"Represents Common Shares issued upon the vesting of restricted stock unit awards"
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 equivalent units financial
"vesting of restricted stock unit awards, including dividend equivalent units"
Dividend equivalent units are bookkeeping credits that mirror cash dividends paid on actual shares, granted to holders of stock-based awards such as restricted stock units or deferred compensation. They matter to investors because they increase a company’s reported employee compensation cost and can lead to issuance of more shares or cash payouts over time, similar to extra pay linked to ownership that affects shareholder dilution and corporate cash flow.
contingent right financial
"Each Restricted Stock Unit represents a contingent right to receive one Common Share"
tax-withholding disposition financial
"transaction_action: tax-withholding disposition"
A tax-withholding disposition is an event or transaction—such as selling or transferring securities, exercising options, or receiving compensation—that triggers a requirement to hold back part of the payment and remit it to tax authorities. It matters to investors because it reduces the cash they receive immediately and can change the timing and amount of taxable income, like a cashier taking a portion of your sale proceeds to pay taxes before you get the rest.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What RSU vesting did Progressive (PGR) report for Patrick K. Callahan?
Progressive reported that 6,270.067 restricted stock units, including dividend equivalent units, vested for Personal Lines President Patrick K. Callahan on January 20, 2026. Each vested unit was settled in one Common Share of Progressive stock.
What do Progressive (PGR) footnotes say about the restricted stock units?
The footnotes explain that the Common Shares were issued upon vesting of restricted stock unit awards, including dividend equivalent units. They also state that each Restricted Stock Unit represents a contingent right to receive one Common Share and that the units vested on January 20, 2026.
Were the Progressive (PGR) transactions derivative exercises or market trades?
The activity includes a derivative exercise of restricted stock units into 6,270.067 Common Shares and a separate tax-withholding disposition of 2,028 Common Shares. The disposition is specifically described as payment of tax liability by delivering securities, not a regular market trade.
AI-generated analysis. How Rhea-AI works. Not financial advice.
