Progressive Corp (PGR) Chief Accounting Officer reports new restricted stock units

Rhea-AI Filing Summary

Progressive Corp. (PGR) Chief Accounting Officer Joyce Carl G reported an acquisition of derivative equity awards in the form of restricted stock units. On 01/08/2026, the officer received 119.289 Restricted Stock Units at a price of $0 per unit, coded as an acquisition. Each unit represents a contingent right to receive one common share of Progressive’s stock, meaning the officer may receive the underlying shares when vesting conditions are met.

The filing notes that these units were acquired through the reinvestment of dividend equivalents and will vest at the same time as the related restricted stock units. Following this transaction, the officer directly beneficially owns 1,983.384 Restricted Stock Units. This reflects a routine equity-based compensation adjustment rather than a cash purchase or sale on the open market.

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

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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^*

Joyce Carl G

(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)

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

3. Date of Earliest Transaction (Month/Day/Year)
01/08/2026

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
Restricted Stock Unit	(1)	01/08/2026		A		119.289		(2)	(3)	Common	119.289	$0	1,983.384	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, which were acquired upon the reinvestment of dividend equivalents, will vest at the same time as the Restricted Stock Units to which they relate.

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

	/s/ Allyson L. Bach, By Power of Attorney	01/12/2026
	** 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.
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FAQ

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

The filing shows Progressive’s Chief Accounting Officer, Joyce Carl G, acquired 119.289 Restricted Stock Units on 01/08/2026, classified as an acquisition of derivative securities at a price of $0 per unit.

How many Restricted Stock Units does the Progressive (PGR) officer hold after this transaction?

After the reported transaction, the officer beneficially owns 1,983.384 Restricted Stock Units directly.

How were the new Restricted Stock Units for Progressive (PGR) obtained?

The 119.289 Restricted Stock Units were acquired through the reinvestment of dividend equivalents, and will vest at the same time as the related restricted stock units, according to the footnotes.

What does each Restricted Stock Unit represent for Progressive Corp (PGR)?

Each Restricted Stock Unit represents a contingent right to receive one common share of Progressive Corp’s stock, subject to vesting conditions.

Is the Progressive (PGR) insider transaction a direct or indirect holding?

The filing classifies the holdings as Direct (D) beneficial ownership, with no separate entity listed for indirect ownership.

Was this Progressive (PGR) Form 4 transaction part of a Rule 10b5-1 trading plan?

The form includes standard language about Rule 10b5-1 plans, but the provided content does not indicate that the transaction was made under such a plan.