Progressive director Charles A. Davis acquires stock units

A director's phantom units came from dividend-equivalent reinvestment and are payable in cash at an elected or plan-determined time.

Rhea-AI Filing Summary

Progressive Corp. director Charles A. Davis reported acquiring 2.3055 Phantom Stock Units and 10.0252 Phantom Stock Unit (rest. Stock) on October 9, 2026. Both amounts were acquired through reinvestment of dividend equivalents. The units will be paid out in cash at a time Davis elects or another time determined under the plan. His reported resulting positions were 5,043.4534 Phantom Stock Units and 21,931.1561 Phantom Stock Unit (rest. Stock), respectively.

Insider Trade Summary

Grant/Award: 12.3307 shares

Grant/Award 2 txns

Insider DAVIS CHARLES A

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Phantom Stock Units F1, F2, F3	2.3055	$0.00	$0.00
Grant/Award	Phantom Stock Unit (rest. Stock) F1, F2, F3	10.0252	$0.00	$0.00

Holdings After Transaction: Phantom Stock Units — 5,043.4534 contracts (Direct); Phantom Stock Unit (rest. Stock) — 21,931.1561 contracts (Direct)

Footnotes (3)

1. F1. 1 for 1
2. F2. 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. F3. Expiration Date is the same as the Date Exercisable.

Key Figures

Phantom Stock Units acquired: 2.3055 units Phantom Stock Units after transaction: 5,043.4534 units Phantom Stock Unit (rest. Stock) acquired: 10.0252 units +1 more

4 metrics

Phantom Stock Units acquired 2.3055 units October 9, 2026

Phantom Stock Units after transaction 5,043.4534 units Reported resulting position

Phantom Stock Unit (rest. Stock) acquired 10.0252 units October 9, 2026

Phantom Stock Unit (rest. Stock) after transaction 21,931.1561 units Reported resulting position

Key Terms

Phantom Stock Units, dividend equivalents, 1 for 1

3 terms

Phantom Stock Units financial

"Phantom Stock Units"

Phantom stock units are company promises that pay a cash or stock-equivalent award tied to the firm’s share price or value growth, but they do not issue actual shares. Think of them as a bonus check that moves with the stock like a mirror rather than handing over an ownership slice. Investors care because these awards can affect a company’s future cash obligations, executive incentives and reported expenses without causing share dilution.

dividend equivalents financial

"acquired upon the reinvestment of dividend equivalents"

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.

1 for 1 technical

"1 for 1"

FAQ

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

How many PGR phantom stock units did Charles A. Davis acquire?

On October 9, 2026, Charles A. Davis acquired 2.3055 Phantom Stock Units and 10.0252 Phantom Stock Unit (rest. Stock) through reinvestment of dividend equivalents. His reported resulting positions were 5,043.4534 and 21,931.1561 units, respectively.

How are PGR phantom stock units paid out?

The units acquired through reinvestment of dividend equivalents will be paid out in cash at the time elected by Charles A. Davis or at another time determined in accordance with the plan.

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

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Available on EDGAR 10/13/2026 - 11:03 AM EDT Accepted by SEC EDGAR 10/13/2026 - 11:03 AM EDT 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^*

DAVIS CHARLES A

(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)
10/09/2026

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 Units	(1)	10/09/2026		A		2.3055		(2)	(3)	Common	2.3055	$0	5,043.4534	D
Phantom Stock Unit (rest. Stock)	(1)	10/09/2026		A		10.0252		(2)	(3)	Common	10.0252	$0	21,931.1561	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	10/13/2026
	** 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)