Progressive CLO receives stock award and tax share withholding
Progressive Corp executive David M. Stringer, Vice President, Secretary and CLO, reported equity compensation activity in common shares.
Rhea-AI Filing Summary
Progressive Corp executive David M. Stringer, Vice President, Secretary and CLO, reported equity compensation activity in common shares. On July 24, 2026, he acquired 529.502 common shares at $0 via vesting of performance-based restricted stock unit awards granted in 2023, including dividend equivalents, and had 235 shares withheld at $211.90 per share in a transaction to satisfy exercise-price or tax-liability obligations. He also reported indirect ownership of 81.963 common shares held in a 401(k) Plan.
Positive
- None.
Negative
- None.
Insider Trade Summary
3 transactions reported
Mixed
3 txns
Insider
Stringer David M
Role
Vice Pres, Secretary and CLO
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common F1 | 529.502 | $0.00 | $0.00 |
| Exercise Price or Tax Liability | Common | 235 | $211.90 | $50K |
| holding | Common | -- | -- | -- |
Holdings After Transaction:
Common — 5,033.875 shares (Direct);
Common — 81.963 shares (Indirect, 401(k) Plan)
Footnotes (1)
- F1. These shares were issued pursuant to the vesting of performance-based restricted stock unit awards made in 2023, including dividend equivalents accrued since the grant date.
Key Figures
Shares acquired via RSU vesting: 529.5020 shares
Shares withheld for obligations: 235.0000 shares
Indirect 401(k) holdings: 81.9630 shares
3 metrics
Shares acquired via RSU vesting
529.5020 shares
Common shares issued upon vesting of 2023 performance-based restricted stock unit awards, including dividend equivalents
Shares withheld for obligations
235.0000 shares
Common shares delivered or withheld at $211.9000 per share to pay exercise price or tax liability
Indirect 401(k) holdings
81.9630 shares
Common shares held indirectly in a 401(k) Plan after the reported transactions
Key Terms
performance-based restricted stock unit, dividend equivalents, 401(k) Plan
3 terms
performance-based restricted stock unit financial
"vesting of performance-based restricted stock unit awards made in 2023"
A performance-based restricted stock unit is a promise of company shares given to an employee that only becomes actual stock if specific performance targets are met and any required time at the company is completed. For investors, these awards matter because they can dilute existing shares when earned and signal management’s confidence or the company’s expected future performance, much like a bonus cheque that only clears when pre-set goals are reached.
dividend equivalents financial
"including dividend equivalents accrued since the grant date"
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.
401(k) Plan financial
"indirect ownership of shares held in a 401(k) Plan"
A 401(k) plan is a workplace retirement account that lets employees set aside part of their pay into a tax-advantaged savings pot, often with employers adding matching contributions — like a workplace piggy bank for future income. It matters to investors because the amount people save and how employers fund these plans influence consumer spending, corporate payroll costs and the flow of money into financial markets, which can affect stock prices and company valuations.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What stock award did Progressive (PGR) executive David M. Stringer report?
David M. Stringer reported receiving 529.502 common shares of Progressive through vesting of performance-based restricted stock unit awards granted in 2023. The award also included dividend equivalents accrued since the grant date, and the shares were reported as acquired on July 24, 2026.
What type of equity awards vested for David M. Stringer at Progressive (PGR)?
The reported acquisition reflects vesting of performance-based restricted stock unit awards originally granted in 2023. The footnote explains that the 529.502 common shares issued include dividend equivalents that had accrued on the RSUs from the grant date through the vesting date.
Is David M. Stringer’s reported transaction in Progressive (PGR) a market buy or sell?
The filing describes equity compensation activity rather than open-market trading. Shares were acquired through RSU vesting, and other shares were withheld to cover exercise-price or tax-liability obligations. No open-market purchase or sale transactions are reported in this Form 4.
AI-generated analysis. How Rhea-AI works. Not financial advice.
