Progressive Corp (NYSE: PGR) director gains cash-settled phantom stock units

Rhea-AI Filing Summary

Progressive Corp director Barbara R. Snyder received an acquisition of 9.3955 phantom stock units on July 10, 2026, reported as a grant/award tied to dividend-equivalent reinvestment. The units track common stock on a 1-for-1 basis and will be paid out in cash under the plan, bringing her reported phantom stock holdings to 21,594.1026 units.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Snyder Barbara R

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Phantom Stock Unit (rest. Stock)	9.396	$0.00	--

Holdings After Transaction: Phantom Stock Unit (rest. Stock) — 21,594.103 shares (Direct)

Footnotes (1)

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 units acquired: 9.3955 units Price per phantom unit: $0.0000 Phantom units after transaction: 21,594.1026 units +1 more

4 metrics

Phantom units acquired 9.3955 units Grant/award acquisition of phantom stock units on July 10, 2026

Price per phantom unit $0.0000 Reported transaction price per phantom stock unit

Phantom units after transaction 21,594.1026 units Total phantom stock units beneficially owned following the acquisition

Underlying common share ratio 1 for 1 Each phantom stock unit corresponds to one underlying common share for value tracking

Key Terms

Phantom Stock Unit, dividend equivalents, Date Exercisable

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.

Date Exercisable financial

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

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Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 07/14/2026 - 11:43 AM Accepted by SEC EDGAR 07/14/2026 - 11:43 AM Learn about SEC filing dates

FAQ

What insider transaction did Progressive (PGR) director Barbara R. Snyder report?

Barbara R. Snyder reported a grant/award acquisition of 9.3955 phantom stock units on July 10, 2026. These units were acquired through reinvestment of dividend equivalents and are linked 1-for-1 to Progressive common stock, settling in cash under the company plan.

How many phantom stock units does Barbara R. Snyder now hold at Progressive (PGR)?

After the reported transaction, Barbara R. Snyder holds 21,594.1026 phantom stock units. This reflects the addition of 9.3955 units granted via dividend-equivalent reinvestment, as disclosed in the Form 4 filing for her director compensation-related holdings.

Was Barbara R. Snyder’s Form 4 transaction in Progressive (PGR) an open-market buy or sale?

The reported activity was not an open-market buy or sale. It was an acquisition coded "A" for a grant/award of phantom stock units, received at a price of $0.0000 per unit as part of a compensation and dividend-equivalent reinvestment arrangement.

How are Barbara R. Snyder’s Progressive (PGR) phantom stock units settled?

The phantom stock units will be paid out in cash at the time elected by Barbara R. Snyder or as otherwise provided under the plan. They track Progressive common stock on a 1-for-1 basis but do not involve immediate delivery of actual shares.

What does the 1-for-1 notation mean in Barbara R. Snyder’s Progressive (PGR) Form 4?

The filing notes a "1 for 1" relationship, meaning each phantom stock unit corresponds to one underlying Progressive common share for value tracking. However, the units are cash-settled, so value is delivered in cash rather than in actual shares at payout.

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^*

Snyder Barbara R

(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		9.3955		(2)	(3)	Common	9.3955	$0	21,594.1026	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)