Progressive (NYSE: PGR) grants director Philip Bleser 10.8874 phantom units
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Bleser Philip reported acquisition or exercise transactions in this Form 4 filing.
Progressive Corp. director Philip Bleser received a grant of 10.8874 phantom stock units on July 10, 2026, through the reinvestment of dividend equivalents. Each unit is credited on a 1 for 1 basis with common shares and will be paid out in cash under the plan, bringing his balance to 25,022.9828 units.
Positive
- None.
Negative
- None.
Insider Trade Summary
1 transaction reported
Mixed
1 txn
Insider
Bleser Philip
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Phantom Stock Unit (rest. Stock) | 10.887 | $0.00 | -- |
Holdings After Transaction:
Phantom Stock Unit (rest. Stock) — 25,022.983 shares (Direct)
Footnotes (1)
- 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. Expiration Date is the same as the Date Exercisable.
Key Figures
Phantom stock units granted: 10.8874 units
Phantom stock units held after grant: 25022.9828 units
Transaction price per unit: $0.0000
+1 more
4 metrics
Phantom stock units granted
10.8874 units
Grant to director Philip Bleser on 2026-07-10
Phantom stock units held after grant
25022.9828 units
Total phantom stock unit balance following the transaction
Transaction price per unit
$0.0000
Grant price per phantom stock unit
Conversion ratio
1 for 1
Each phantom stock unit corresponds to one share of common stock
Key Terms
Phantom Stock Unit, dividend equivalents, Expiration Date
3 terms
Phantom Stock Unit financial
"Security title is listed as "Phantom Stock Unit (rest. Stock)""
dividend equivalents financial
"These units, which were acquired upon the reinvestment of dividend equivalents"
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.
Expiration Date financial
"Expiration Date is the same as the Date Exercisable."
The expiration date is the deadline after which a financial contract, such as an option or a futures agreement, is no longer valid or can be exercised. It matters to investors because it determines the timeframe during which they can take action or benefit from the contract, similar to how a coupon or a food item has a limited period of usefulness. Once the expiration date passes, the contract loses its value or ability to be used.
FAQ
What insider transaction did Progressive (PGR) director Philip Bleser report?
Director Philip Bleser reported a grant of 10.8874 phantom stock units. The award is coded as an acquisition (code A), reflecting a compensation-related grant rather than an open-market trade, and increases his total phantom unit balance under the plan.
How many phantom stock units did Philip Bleser receive from Progressive (PGR)?
Philip Bleser received 10.8874 phantom stock units. These units were acquired through the reinvestment of dividend equivalents and are credited on a 1-for-1 basis with Progressive common shares, to be settled in cash at a future time under the plan.
How many phantom stock units does Philip Bleser hold after this PGR Form 4 transaction?
After the reported grant, Philip Bleser holds 25,022.9828 phantom stock units. This figure reflects his total balance of cash-settled phantom units tied to Progressive common stock under the company plan following the July 10, 2026 award.
How are Progressive (PGR) phantom stock units held by Philip Bleser settled?
The phantom stock units will be paid out in cash. Payment occurs at the time elected by Philip Bleser or at another time specified in accordance with the plan, rather than through delivery of actual Progressive common shares.
What does the 1-for-1 notation mean for Philip Bleser’s PGR phantom units?
The 1 for 1 notation means each phantom stock unit corresponds to one Progressive common share. Although units mirror share value for compensation purposes, they are designed to be settled in cash under the terms of the plan.