Progressive director awarded phantom stock units

Bleser Philip reported acquisition or exercise transactions in this Form 4 filing.

Accepted by SEC EDGAR 07/14/2026 - 11:26 AM EDT Learn about SEC filing dates

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.

Insider Trade Summary

Grant/Award: 10.8874 shares

Grant/Award 1 txn

Insider Bleser Philip

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Phantom Stock Unit (rest. Stock) F1, F2, F3	10.8874	$0.00	$0.00

Holdings After Transaction: Phantom Stock Unit (rest. Stock) — 25,022.9828 contracts (Direct)

Holdings Before and After: Phantom Stock Unit (rest. Stock), 25,012.0954 to 25,022.9828 contracts (Direct)

Footnotes (3)

1. F1. 1 for 1
2. F2. 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.
3. F3. 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

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

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.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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SEC Form 4

FORM 4

UNITED 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^*

Bleser Philip

(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)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
07/10/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form 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)
			Code	V	Amount	(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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Phantom Stock Unit (rest. Stock)	(1)	07/10/2026		A		10.8874		(2)	(3)	Common	10.8874	$0	25,022.9828	D

Explanation of Responses:

1. 1 for 1

2. 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.

3. Expiration Date is the same as the Date Exercisable.

	/s/ Allyson L. Bach, By Power of Attorney	07/14/2026
	** Signature of Reporting Person	Date
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)