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Progressive (PGR) insider sale: 8,063 shares executed via 10b5-1

Filing Impact
(Very High)
Filing Sentiment
(Negative)
Form Type
4

Rhea-AI Filing Summary

Lori A. Niederst, CRM President at Progressive Corporation (PGR), reported an insider sale on 08/14/2025 under a 10b5-1 trading plan. The filing shows 8,063 shares sold at $250.18 per share. After the reported sale, the reporting person beneficially owns 39,040.497 shares directly and 196.81 shares indirectly through a spouse's 401(k) plan. The 10b5-1 plan was adopted on March 28, 2025. The Form 4 was signed by an attorney-in-fact on 08/15/2025.

Positive

  • Transaction executed under a 10b5-1 plan, indicating preplanned trading and compliance with insider trading rules
  • Continued direct ownership of 39,040.497 shares after the sale, showing retained stake

Negative

  • Insider sale of 8,063 shares at $250.18 represents a notable disposition disclosed to the market

Insights

TL;DR: Routine, preplanned insider sale under a 10b5-1 plan; signals compliance and timing, not necessarily new information about company prospects.

The sale of 8,063 shares at $250.18 executed pursuant to a 10b5-1 plan indicates the transaction was pre-authorized and is consistent with standard insider liquidity management. Use of a formal plan reduces concerns about trading on material nonpublic information and supports governance and disclosure practices. The remaining direct beneficial ownership of 39,040.497 shares maintains continued ownership, while the small indirect holding via a spouse's 401(k) is immaterial.

TL;DR: Insider sale is material only as a disclosure event; transaction size and preclearance suggest routine portfolio management.

From an investor-impact perspective, this Form 4 documents an insider disposition executed at $250.18 per share under a 10b5-1 plan adopted March 28, 2025. The reporting person still holds over 39,000 shares directly, so the sale does not eliminate ownership. Without additional context on ownership percentage or subsequent transactions, this single reported sale appears informational rather than a material shift in insider commitment.

Insider Niederst Lori A
Role CRM President
Sold 8,063 shs ($2.02M)
Type Security Shares Price Value
Sale Common 8,063 $250.18 $2.02M
holding Common -- -- --
Holdings After Transaction: Common — 39,040.497 shares (Direct); Common — 196.81 shares (Indirect, Husband's 401(k) Plan)
Footnotes (1)
  1. [object Object]
Form 4 Insider Transactions: What Each Field Means →
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).
X
 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*
Niederst Lori A
(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)
CRM President
3. Date of Earliest Transaction (Month/Day/Year)
08/14/2025
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
Common 08/14/2025 S(1) 8,063 D $250.18 39,040.497 D
Common 196.81 I Husband's 401(k) Plan
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
Explanation of Responses:
1. This transaction reported on this Form 4 was made pursuant to a 10b5-1 trading plan adopted by the reporting person as of March 28, 2025.
/s/ Sarah R. D'Amore, By Power of Attorney 08/15/2025
** 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.

Source: View Original Filing on SEC EDGAR

FAQ

What insider transaction did Lori A. Niederst report for PGR?

The Form 4 reports a sale of 8,063 shares of Progressive Corporation (PGR) on 08/14/2025 at a price of $250.18 per share.

Was the sale part of a prearranged trading plan for PGR insider?

Yes. The sale was executed pursuant to a 10b5-1 trading plan adopted by the reporting person on March 28, 2025.

How many PGR shares does the reporting person own after the sale?

Following the transaction the reporting person beneficially owns 39,040.497 shares directly and 196.81 shares indirectly through a spouse's 401(k) plan.

Who signed the Form 4 filing for the reporting person?

The Form 4 was signed by Sarah R. D'Amore by power of attorney on 08/15/2025.

What price per share was reported for the PGR sale?

The reported sale price was $250.18 per share.