Progressive CLO gets RSUs via dividend equivalents
Stringer David M reported acquisition or exercise transactions in this Form 4 filing.
Accepted by SEC EDGAR
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Form Type
4
Rhea-AI Filing Summary
Stringer David M reported acquisition or exercise transactions in this Form 4 filing.
Progressive Corp/OH executive David M. Stringer, Vice President, Secretary and CLO, received awards of 3.9820 Restricted Stock Units and 0.0520 Deferred Comp Units on 2026-07-10 through reinvested dividend equivalents. Each RSU is a contingent right to one common share, while deferred units are paid in cash under the plan. Following these routine awards, he holds 9,152.6970 RSUs and 120.0210 deferred comp units directly.
Insider Trade Summary
Grant/Award: 4.034 shares
Grant/Award
2 txns
Insider
Stringer David M
Role
Vice Pres, Secretary and CLO
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Restricted Stock Unit F1, F2, F3 | 3.982 | $0.00 | $0.00 |
| Grant/Award | Deferred Comp Unit F4, F5, F3 | 0.052 | $0.00 | $0.00 |
Holdings After Transaction:
Restricted Stock Unit — 9,152.697 contracts (Direct);
Deferred Comp Unit — 120.021 contracts (Direct)
Holdings Before and After:
Restricted Stock Unit, 9,148.715 to 9,152.697 contracts (Direct);
Deferred Comp Unit, 119.969 to 120.021 contracts (Direct)
Footnotes (5)
- F1. Each Restricted Stock Unit represents a contingent right to receive one Common Share of the Company's stock.
- F2. 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.
- F3. Expiration Date is the same as the Date Exercisable.
- F4. 1 for 1
- F5. 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.
Key Figures
RSUs acquired: 3.9820
Deferred Comp Units acquired: 0.0520
RSUs following transaction: 9152.6970
+1 more
4 metrics
RSUs acquired
3.9820
Restricted Stock Units granted via dividend equivalent reinvestment on 2026-07-10
Deferred Comp Units acquired
0.0520
Deferred compensation units tied to common stock value, from dividend equivalents on 2026-07-10
RSUs following transaction
9152.6970
Total Restricted Stock Units held directly by David M. Stringer after the award
Deferred Comp Units following transaction
120.0210
Total Deferred Comp Units held directly after the latest dividend equivalent reinvestment
Key Terms
Restricted Stock Unit, Deferred Comp Unit, dividend equivalents
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.
Deferred Comp Unit financial
"security title: Deferred Comp Unit related to Progressive common stock value"
dividend equivalents financial
"These units, which were acquired upon the reinvestment of dividend equivalents, will vest..."
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.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transactions did Progressive (PGR) report for David M. Stringer?
David M. Stringer reported two derivative awards on 2026-07-10: 3.9820 Restricted Stock Units and 0.0520 Deferred Comp Units. Both arose from dividend equivalent reinvestment, not open-market buying or selling of Progressive common shares.
How many Restricted Stock Units does Progressive (PGR) CLO David Stringer now hold?
After the latest award, David Stringer holds 9,152.6970 Restricted Stock Units directly. These RSUs each represent a contingent right to receive one Progressive common share, subject to the applicable vesting schedule.
What are the Deferred Comp Units reported in Progressive (PGR) executive’s Form 4?
Deferred Comp Units are cash-settled units tied to Progressive’s common stock value. Stringer acquired 0.0520 units via reinvested dividend equivalents, bringing his total to 120.0210 units, which will be paid in cash under the deferred compensation plan.
How do the new RSUs for Progressive (PGR) CLO vest or pay out?
Each Restricted Stock Unit is a contingent right to one common share and will vest on the same schedule as the related RSU grant. The associated Deferred Comp Units will be paid out in cash at the time elected or as allowed under the plan.
AI-generated analysis. How Rhea-AI works. Not financial advice.
