Progressive executive receives 888.988 RSUs via dividend reinvestment

Progressive Corp (PGR) insider Lori A. Niederst, CRM President, reported an acquisition of derivative equity units.

Rhea-AI Filing Summary

Progressive Corp (PGR) insider Lori A. Niederst, CRM President, reported an acquisition of derivative equity units. On 01/08/2026, she received 888.988 Restricted Stock Units at a price of $0. Each unit represents a contingent right to receive one Progressive common share.

The new units were acquired through the reinvestment of dividend equivalents and will vest at the same time as the related underlying Restricted Stock Units. After this transaction, Niederst beneficially owned 14,781.06 Restricted Stock Units directly.

Insider Trade Summary

Grant/Award: 888.988 shares

Grant/Award 1 txn

Insider Niederst Lori A

Role CRM President

Type	Security	Shares	Price	Value
Grant/Award	Restricted Stock Unit	888.988	$0.00	$0.00

Holdings After Transaction: Restricted Stock Unit — 14,781.06 contracts (Direct)

Footnotes (3)

1. F1. Each Restricted Stock Unit represents a contingent right to receive one Common Share of the Company's stock.
2. F2. 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. F3. Expiration Date is the same as Date Exercisable.

FAQ

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

What insider transaction did Progressive (PGR) report in this Form 4?

Progressive reported that CRM President Lori A. Niederst acquired 888.988 Restricted Stock Units on 01/08/2026 at a price of $0 per unit.

How many Progressive (PGR) Restricted Stock Units does Lori A. Niederst hold after this transaction?

Following the reported transaction, Lori A. Niederst beneficially owned 14,781.06 Restricted Stock Units directly.

What does each Restricted Stock Unit represent for Progressive (PGR)?

Each Restricted Stock Unit represents a contingent right to receive one Progressive common share.

How were the new Progressive (PGR) Restricted Stock Units acquired?

The 888.988 units were acquired through the reinvestment of dividend equivalents tied to existing Restricted Stock Units.

When will these Progressive (PGR) Restricted Stock Units vest?

The acquired units will vest at the same time as the underlying Restricted Stock Units to which they relate.

Does this Form 4 involve direct or indirect ownership for Progressive (PGR) insider Lori A. Niederst?

The filing classifies the holdings as direct ownership (D) by Lori A. Niederst.

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

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Accepted by SEC EDGAR 01/12/2026 - 11:06 AM Learn about SEC filing dates

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^*

Niederst Lori A

(Last) (First) (Middle)

300 NORTH COMMONS BLVD.

(Street)

MAYFIELD VILLAGE OH 44143

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
PROGRESSIVE CORP/OH/ [ PGR ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

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

3. Date of Earliest Transaction (Month/Day/Year)
01/08/2026

4. If Amendment, Date of Original Filed (Month/Day/Year)

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

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

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
Restricted Stock Unit	(1)	01/08/2026		A		888.988		(2)	(3)	Common	888.988	$0	14,781.06	D

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 Date Exercisable.

	/s/ Allyson L. Bach, By Power of Attorney	01/12/2026
	** 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.