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Progressive (PGR) Personal Lines President receives new RSU and deferred cash units

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

Progressive Corp's Personal Lines President Patrick K. Callahan received additional equity-based compensation in the form of derivative awards. On April 10, 2026, he acquired 7.808 Restricted Stock Units and 49.678 Deferred Compensation Units, both at a stated price of $0.00 per unit. Each Restricted Stock Unit represents a contingent right to receive one common share, while the Deferred Compensation Units will be settled in cash according to the company plan.

Positive

  • None.

Negative

  • None.
Insider Callahan Patrick K
Role Personal Lines President
Type Security Shares Price Value
Grant/Award Restricted Stock Unit 7.808 $0.00 --
Grant/Award Deferred Comp Unit 49.678 $0.00 --
Holdings After Transaction: Restricted Stock Unit — 15,361.735 shares (Direct); Deferred Comp Unit — 98,259.898 shares (Direct)
Footnotes (1)
  1. Each Restricted Stock Unit represents a contingent right to receive one Common Share of the Company's stock. 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. Expiration Date is the same as the Date Exercisable. 1 for 1 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.
Restricted Stock Units granted 7.808 units Grant on April 10, 2026
RSUs held after grant 15,361.735 units Total Restricted Stock Units following transaction
Deferred Comp Units granted 49.678 units Grant on April 10, 2026
Deferred Comp Units after grant 98,259.898 units Total Deferred Compensation Units following transaction
Stated grant price $0.00 per unit Both RSU and Deferred Comp Unit grants
Restricted Stock Unit financial
"Each Restricted Stock Unit represents a contingent right to receive one Common Share of the Company's stock."
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
"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"
dividend equivalents financial
"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."
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.
contingent right financial
"Each Restricted Stock Unit represents a contingent right to receive one Common Share of the Company's stock."
1 for 1 financial
"1 for 1"
Form 4 Insider Transactions: What Each Field Means →
SEC Form 4
FORM 4UNITED 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*
Callahan Patrick K
(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)
Director10% Owner
XOfficer (give title below)Other (specify below)
Personal Lines President
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
04/10/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
XForm 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)
CodeVAmount(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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Restricted Stock Unit(1)04/10/2026A7.808 (2) (3)Common7.808$015,361.735D
Deferred Comp Unit(4)04/10/2026A49.678 (5) (3)Common49.678$098,259.898D
Explanation of Responses:
1. Each Restricted Stock Unit represents a contingent right to receive one Common Share of the Company's stock.
2. 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.
3. Expiration Date is the same as the Date Exercisable.
4. 1 for 1
5. 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.
/s/ Allyson L. Bach, By Power of Attorney04/14/2026
** Signature of Reporting PersonDate
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)

Source: View Original Filing on SEC EDGAR

FAQ

What insider transactions did PGR executive Patrick K. Callahan report?

Patrick K. Callahan reported two compensation-related acquisitions on April 10, 2026: 7.808 Restricted Stock Units and 49.678 Deferred Compensation Units. Both were granted at a stated price of $0.00 per unit as part of his compensation.

Were Patrick K. Callahan’s PGR transactions open-market buys or sells?

The reported PGR transactions were grants, not open-market trades. They are coded as acquisitions of derivative awards (Restricted Stock Units and Deferred Compensation Units) received as part of compensation, rather than discretionary stock purchases or sales.

How many Progressive (PGR) Restricted Stock Units does Callahan hold after this filing?

After the April 10, 2026 grant of 7.808 Restricted Stock Units, Patrick K. Callahan holds a total of 15,361.735 Restricted Stock Units directly. Each Restricted Stock Unit represents a contingent right to receive one Progressive common share in the future.

What are Deferred Compensation Units in the PGR filing for Patrick K. Callahan?

Deferred Compensation Units are cash-settled units linked to Progressive common shares. Callahan acquired 49.678 units, bringing his total to 98,259.898 units. These units will be paid out in cash at times specified under the company’s compensation plan.

How were the new PGR units acquired by Patrick K. Callahan generated?

The new PGR units were acquired through dividend equivalent reinvestment. Both the additional Restricted Stock Units and Deferred Compensation Units stem from reinvested dividend equivalents and will vest or pay out under the same terms as the related original awards.