Progressive (PGR) director gets 9.4385 phantom units; holds 22,801.2736

Progressive (PGR): A company director reported acquiring 9.4385 phantom stock units on 10/10/2025, coded “A,” at a price of $0 through the reinvestment of dividend equivalents.

Accepted by SEC EDGAR 10/14/2025 - 03:39 PM EDT Learn about SEC filing dates

Rhea-AI Filing Summary

Progressive (PGR): A company director reported acquiring 9.4385 phantom stock units on 10/10/2025, coded “A,” at a price of $0 through the reinvestment of dividend equivalents. Each unit is structured on a 1-for-1 basis with common stock.

The units are payable in cash at the time elected by the reporting person or as determined under the plan. Following the transaction, direct beneficial ownership totals 22,801.2736 phantom stock units.

Insider Trade Summary

Grant/Award: 9.4385 shares

Grant/Award 1 txn

Insider Bleser Philip

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Phantom Stock Unit (rest. Stock)	9.4385	$0.00	$0.00

Holdings After Transaction: Phantom Stock Unit (rest. Stock) — 22,801.2736 contracts (Direct)

Holdings Before and After: Phantom Stock Unit (rest. Stock), 22,791.8351 to 22,801.2736 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.

FAQ

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

What did Progressive (PGR) disclose in this Form 4?

A director acquired 9.4385 phantom stock units on 10/10/2025 via dividend equivalents at $0.

How many phantom stock units does the PGR director hold after the transaction?

Direct beneficial ownership is 22,801.2736 phantom stock units after the reported acquisition.

What is the structure of the phantom stock units at Progressive (PGR)?

They are on a 1-for-1 basis with common stock and are paid in cash under the plan terms.

What was the transaction code in the PGR Form 4 filing?

The transaction code was A, indicating an acquisition.

How were the PGR phantom units acquired?

They were acquired through the reinvestment of dividend equivalents at $0.

Is the ownership direct or indirect for these PGR units?

The filing indicates Direct (D) ownership.

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

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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).

1. Name and Address of Reporting Person^*

Bleser Philip

(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)

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

3. Date of Earliest Transaction (Month/Day/Year)
10/10/2025

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
Phantom Stock Unit (rest. Stock)	$0(1)	10/10/2025		A		9.4385		(2)	(3)	Common	9.4385	$0	22,801.2736	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	10/14/2025
	** 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.