Progressive Corp (NYSE: PGR) director gains phantom stock units via dividends
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Progressive Corp director Pamela J. Craig reported a grant of 3.0695 Phantom Stock Units on July 10, 2026, classified as a grant/award acquisition tied to dividend reinvestment. These units, which track common stock on a 1-for-1 basis, will be paid out in cash under the plan’s timing rules. Following this grant, Craig’s direct Phantom Stock Unit balance is 7054.6987 units, and no open-market purchases or sales of Progressive common shares were reported.
Positive
- None.
Negative
- None.
Insider Trade Summary
1 transaction reported
Mixed
1 txn
Insider
Craig Pamela J.
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Phantom Stock Unit (rest. Stock) | 3.07 | $0.00 | -- |
Holdings After Transaction:
Phantom Stock Unit (rest. Stock) — 7,054.699 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: 3.0695 units
Phantom Stock Units after transaction: 7054.6987 units
Transaction price per unit: 0.0000
+1 more
4 metrics
Phantom Stock Units granted
3.0695 units
Grant/award acquisition on 2026-07-10 via reinvestment of dividend equivalents
Phantom Stock Units after transaction
7054.6987 units
Total direct Phantom Stock Unit holdings following the reported grant
Transaction price per unit
0.0000
Reported price per Phantom Stock Unit for the grant transaction
Unit-to-share 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
"Phantom Stock Unit (rest. Stock)"
dividend equivalents financial
"acquired upon the reinvestment of dividend equivalents, will be paid out in cash"
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 Pamela J. Craig report for Progressive Corp (PGR)?
Pamela J. Craig reported a grant of 3.0695 Phantom Stock Units linked to Progressive Corp (PGR). The award is classified as a grant/award acquisition and reflects reinvestment of dividend equivalents, with no open-market buying or selling of common stock disclosed.
How many Phantom Stock Units does Pamela J. Craig now hold in Progressive Corp (PGR)?
After the July 10, 2026 transaction, Pamela J. Craig holds 7054.6987 Phantom Stock Units tied to Progressive Corp (PGR). This figure represents her direct Phantom Stock Unit balance following the small dividend-related grant of 3.0695 additional units.
Did Pamela J. Craig buy or sell Progressive (PGR) common stock in this Form 4 filing?
No open-market purchases or sales of Progressive (PGR) common stock were reported. The Form 4 instead shows a derivative award: 3.0695 Phantom Stock Units acquired as a grant linked to dividend equivalents, settled in cash under the plan’s terms.
How are the Progressive (PGR) Phantom Stock Units reported by Pamela J. Craig settled?
The reported Phantom Stock Units are settled in cash, not shares. They were acquired through reinvestment of dividend equivalents and will be paid out at a time elected by Pamela J. Craig or otherwise determined under the applicable plan provisions.
What does the 1-for-1 reference mean for Progressive (PGR) Phantom Stock Units?
The footnote indicates a 1-for-1 relationship between each Phantom Stock Unit and one share of Progressive (PGR) common stock. While units track the value of common shares, they are paid out in cash according to the plan, rather than delivering actual stock.