Progressive CIO granted 2,926 RSUs

Bauer Jonathan S. reported acquisition or exercise transactions in this Form 4 filing.

Rhea-AI Filing Summary

Bauer Jonathan S. reported acquisition or exercise transactions in this Form 4 filing.

Progressive Corp (PGR) Chief Investment Officer Jonathan S. Bauer received a grant of 2,926 Restricted Stock Units. Each unit represents a contingent right to receive one common share of the company’s stock.

Following this grant, Bauer directly holds 12,101.596 Restricted Stock Units. The new units are scheduled to vest in three equal annual installments on January 16, 2029, January 15, 2030, and January 21, 2031, subject to earlier vesting or forfeiture under the plan and award agreement.

Insider Trade Summary

Grant/Award: 2,926 shares

Grant/Award 1 txn

Insider Bauer Jonathan S.

Role Chief Investment Officer

Type	Security	Shares	Price	Value
Grant/Award	Restricted Stock Unit	2,926	$0.00	$0.00

Holdings After Transaction: Restricted Stock Unit — 12,101.596 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 will vest in three equal annual installments on each of January 16, 2029, January 15, 2030, and January 21, 2031, subject to earlier vesting or forfeiture in accordance with the plan and the award agreement.
3. F3. Expiration Date is the same as the Date Exercisable.

FAQ

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

What insider transaction did Progressive (PGR) report for Jonathan S. Bauer?

Progressive reported that Chief Investment Officer Jonathan S. Bauer received a grant of 2,926 Restricted Stock Units. Each unit represents a contingent right to receive one common share, increasing his directly held Restricted Stock Units to 12,101.596 after the transaction.

What type of security did Jonathan S. Bauer receive from Progressive (PGR)?

Jonathan S. Bauer received Restricted Stock Units from Progressive. Each Restricted Stock Unit represents a contingent right to receive one common share of the company’s stock, providing equity-based compensation that aligns the Chief Investment Officer’s interests with long-term shareholder value.

How many Restricted Stock Units does Jonathan S. Bauer hold after this Form 4?

After this grant, Jonathan S. Bauer holds 12,101.596 Restricted Stock Units directly. This total includes the newly granted 2,926 units, which are derivative awards tied to Progressive’s common shares and form part of his equity compensation package.

When do Jonathan S. Bauer’s new Progressive (PGR) Restricted Stock Units vest?

The 2,926 Restricted Stock Units will vest in three equal annual installments. Vesting dates are January 16, 2029, January 15, 2030, and January 21, 2031, subject to earlier vesting or forfeiture under Progressive’s compensation plan and the specific award agreement.

Does the Form 4 for Progressive (PGR) show an open-market buy or sell by Jonathan S. Bauer?

No open-market buy or sell is reported; the Form 4 shows an acquisition coded as a grant. The 2,926 Restricted Stock Units were awarded as equity compensation at a stated transaction price of zero dollars per unit, not through a market purchase or sale.

What role does Jonathan S. Bauer hold at Progressive (PGR) in this Form 4 filing?

Jonathan S. Bauer is identified as Progressive’s Chief Investment Officer in the filing. The Form 4 reports an equity compensation grant of 2,926 Restricted Stock Units to him, reflecting his senior executive status and participation in the company’s long-term incentive program.

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

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Accepted by SEC EDGAR 03/25/2026 - 01:50 PM 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^*

Bauer Jonathan S.

(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)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Investment Officer

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/24/2026

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
Restricted Stock Unit	(1)	03/24/2026		A		2,926		(2)	(3)	Common	2,926	$0	12,101.596	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 will vest in three equal annual installments on each of January 16, 2029, January 15, 2030, and January 21, 2031, subject to earlier vesting or forfeiture in accordance with the plan and the award agreement.

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

	/s/ Laurie F. Humphrey, By Power of Attorney	03/25/2026
	** 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)