Progressive (PGR) director shifts 781 shares into Phantom Stock Units
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Progressive Corp (PGR) director Pamela J. Craig reported routine equity compensation deferrals and related adjustments. She disposed of 781 Common Shares back to the issuer in exchange for 781 Phantom Stock Units under a deferred compensation plan, on a 1-for-1 basis. She also received 3.5839 additional Phantom Stock Units through reinvested dividend equivalents. After these transactions, she holds 7,749 Common Shares directly and 7,051.6292 Phantom Stock Units, which will be settled later in either Common Shares or cash in accordance with the plan. No open-market buying or selling occurred; the activity reflects compensation deferral and dividend reinvestment mechanics.
Positive
- None.
Negative
- None.
Insider Trade Summary
3 transactions reported
Mixed
3 txns
Insider
Craig Pamela J.
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Phantom Stock Unit (rest. Stock) | 781 | $0.00 | -- |
| Grant/Award | Phantom Stock Unit (rest. Stock) | 3.584 | $0.00 | -- |
| Disposition | Common | 781 | $0.00 | -- |
Holdings After Transaction:
Phantom Stock Unit (rest. Stock) — 7,048.045 shares (Direct);
Common — 7,749 shares (Direct)
Footnotes (1)
- The reporting person elected to defer receipt of previously granted restricted Common Shares upon vesting thereof. This Form 4 reports the disposition of such restricted shares in exchange for an equal number of units under the applicable deferred compensation plan. 1 for 1 These units will be paid out in an equal number of Common Shares 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. 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
Common Shares disposed to issuer: 781 shares
Phantom Stock Units from deferred shares: 781 units
Phantom Stock Units from dividend equivalents: 3.5839 units
+3 more
6 metrics
Common Shares disposed to issuer
781 shares
Disposition to issuer in exchange for deferred units on 2026-04-10
Phantom Stock Units from deferred shares
781 units
1-for-1 exchange for previously granted restricted Common Shares
Phantom Stock Units from dividend equivalents
3.5839 units
Units acquired via reinvestment of dividend equivalents
Phantom Stock Units after transactions
7,051.6292 units
Total Phantom Stock Units following 2026-04-10 awards
Common Shares after disposition
7,749 shares
Direct Common Share holdings after 781-share disposition
Conversion ratio
1 for 1
Each Phantom Stock Unit corresponds to one Common Share for payout
Key Terms
Phantom Stock Unit, deferred compensation plan, dividend equivalents, disposition to issuer
4 terms
Phantom Stock Unit financial
"Phantom Stock Unit (rest. Stock)"
deferred compensation plan financial
"units under the applicable deferred compensation plan"
A deferred compensation plan is an arrangement where an employer agrees to pay part of an employee’s pay or bonus at a later date instead of immediately, often to reduce current tax bills or to tie rewards to long-term performance. For investors it matters because these promises create future cash obligations and influence executive incentives and retention; they can affect a company’s reported liabilities, cash flow planning and the risk profile if the business faces financial trouble.
dividend equivalents financial
"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.
disposition to issuer financial
"transaction_action": "issuer disposition""
FAQ
What insider transactions did Progressive (PGR) director Pamela J. Craig report?
Pamela J. Craig reported exchanging 781 previously granted restricted Common Shares for 781 Phantom Stock Units and receiving 3.5839 additional units from dividend reinvestment. The 781 Common Shares were disposed to the issuer, reflecting compensation deferral rather than an open-market sale.
Did Pamela J. Craig buy or sell Progressive (PGR) stock on the open market?
She did not buy or sell shares on the open market. The Form 4 shows a disposition of 781 Common Shares to the issuer in exchange for deferred Phantom Stock Units and a small grant of additional units from dividend equivalents under the compensation plan.
How many Progressive (PGR) Phantom Stock Units does Pamela J. Craig now hold?
After the reported transactions, she holds 7,051.6292 Phantom Stock Units. These units were created by deferring restricted shares and through dividend reinvestments, and will be paid out later in either Common Shares or cash according to the plan’s terms.
What are Phantom Stock Units in the Progressive (PGR) compensation plan?
Phantom Stock Units are deferred compensation units tied to Progressive’s Common Shares. In this case, 781 units were received for 781 restricted shares on a 1-for-1 basis and additional units came from dividend equivalents, with future payout in cash or shares per the plan.
How are dividend equivalents treated in Pamela J. Craig’s Progressive (PGR) plan?
Dividend equivalents are reinvested into additional units, here creating 3.5839 Phantom Stock Units. According to the footnotes, these specific units will be paid out in cash at a time elected by the reporting person or otherwise determined under the plan.