Progressive director receives phantom stock units

Progressive Corp (PGR) director Barbara R. Snyder received a small phantom stock unit award linked to dividend reinvestment.

Rhea-AI Filing Summary

Progressive Corp (PGR) director Barbara R. Snyder received a small phantom stock unit award linked to dividend reinvestment. On April 10, 2026, she acquired 11.3892 Phantom Stock Units, each corresponding on a 1-for-1 basis to one share of Progressive common stock and payable in cash under the company plan.

Following this grant, Snyder directly holds 22,409.4257 Phantom Stock Units. These units were acquired through the reinvestment of dividend equivalents and will be settled in cash at a time she has elected or as otherwise provided by the plan, rather than through delivery of actual shares.

Insider Trade Summary

Grant/Award: 11.3892 shares

Grant/Award 1 txn

Insider Snyder Barbara R

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Phantom Stock Unit (rest. Stock)	11.3892	$0.00	$0.00

Holdings After Transaction: Phantom Stock Unit (rest. Stock) — 22,409.4257 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 units granted: 11.3892 units Total phantom units after: 22,409.4257 units Conversion ratio: 1 for 1 +1 more

4 metrics

Phantom units granted 11.3892 units Grant of Phantom Stock Units on April 10, 2026

Total phantom units after 22,409.4257 units Barbara R. Snyder holdings following the transaction

Conversion ratio 1 for 1 Each Phantom Stock Unit corresponds to one Progressive common share

Price per unit $0.0000 Reported transaction price per Phantom Stock Unit

Key Terms

Phantom Stock Unit, dividend equivalents, grant/award acquisition, derivative, +1 more

5 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.

grant/award acquisition financial

"transaction_action": "grant/award acquisition""

derivative financial

""transaction_type": "derivative""

A derivative is a financial contract whose value depends on the price or performance of another asset or measure — for example a stock, index, interest rate, commodity, or currency. Investors use derivatives like insurance or leveraged bets to hedge risk, speculate, or gain exposure without owning the underlying asset; they can protect portfolios but also amplify losses and introduce counterparty and market risk.

Expiration Date financial

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

The expiration date is the deadline after which a financial contract, such as an option or a futures agreement, is no longer valid or can be exercised. It matters to investors because it determines the timeframe during which they can take action or benefit from the contract, similar to how a coupon or a food item has a limited period of usefulness. Once the expiration date passes, the contract loses its value or ability to be used.

FAQ

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

What did Progressive (PGR) director Barbara Snyder report in this Form 4?

Barbara R. Snyder reported receiving 11.3892 Phantom Stock Units tied to Progressive common stock. These units came from the reinvestment of dividend equivalents and are payable in cash under the company plan rather than through delivery of actual shares.

How many phantom stock units does Barbara Snyder hold after this Progressive (PGR) transaction?

After the April 10, 2026 transaction, Barbara R. Snyder holds 22,409.4257 Phantom Stock Units. These units track Progressive’s common stock value and will be settled in cash at a time she elected or as otherwise determined under the applicable compensation plan.

Was this Progressive (PGR) Form 4 a stock purchase or a grant for Barbara Snyder?

The filing reflects a grant or award acquisition, coded “A,” of 11.3892 Phantom Stock Units for Barbara Snyder. It is classified as a derivative-type transaction arising from dividend equivalent reinvestment, not an open-market stock purchase or sale of Progressive common shares.

What are Phantom Stock Units in Progressive (PGR) director compensation?

Phantom Stock Units are cash-settled awards that mirror the value of Progressive common stock on a 1-for-1 basis. For Barbara Snyder, these units accumulate through mechanisms like dividend equivalent reinvestment and will be paid out in cash according to the terms of the company’s compensation plan.

Does the Barbara Snyder Form 4 for Progressive (PGR) involve actual common shares?

The transaction involves Phantom Stock Units, not direct common share ownership. Although each unit corresponds 1-for-1 to Progressive common stock, the filing states that these units will be paid out in cash at the elected time, rather than issuing actual Progressive shares.

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

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Accepted by SEC EDGAR 04/14/2026 - 11:51 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^*

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)
04/10/2026

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)	04/10/2026		A		11.3892		(2)	(3)	Common	11.3892	$0	22,409.4257	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	04/14/2026
	** 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)