Progressive CIO Broz disposes 1,345 PGR shares via 10b5-1 plan

Rhea-AI Filing Summary

Progressive Corporation (PGR) Chief Information Officer Steven Broz reported a sale of 1,345 shares of Progressive common stock on 08/22/2025 at a reported price of $250.78 per share. The filing states the sale was executed pursuant to a 10b5-1 trading plan adopted on January 30, 2025, indicating the trades were pre-planned. After the reported sale, the filing shows Mr. Broz beneficially owns 31,732.793 shares. The Form 4 was signed by an authorized attorney on 08/25/2025 and includes the required Section 16 disclosure information.

Positive

• Transaction executed under a 10b5-1 plan, indicating the sale was pre-planned and intended to provide an affirmative defense under Rule 10b5-1
• Clear post-transaction ownership disclosure: the filing reports 31,732.793 shares beneficially owned after the sale
• Complete Form 4 compliance with required signature by power of attorney and disclosure of transaction code and price

Negative

• Insider sale of 1,345 shares may be viewed negatively by some investors, though the filing shows it was under a pre-established plan
• Sale reduces insider shareholdings, which could modestly decrease insider exposure to future upside

Insights

Securities Analyst

TL;DR: Insider sale of 1,345 shares under a 10b5-1 plan; ownership remains material at 31,732.793 shares.

The transaction is a routine disclosure of an insider sale performed under a pre-established 10b5-1 plan dated January 30, 2025. The sale price of $250.78 and the specific share amount are disclosed, and the filing confirms post-transaction beneficial ownership. For investors, this represents transparency in insider activity rather than an ad-hoc sale; no derivatives or other compensatory awards are reported. The filing contains the necessary Section 16 formatting and signature by power of attorney.

Corporate Governance Expert

TL;DR: Governance-compliant insider sale with 10b5-1 protection; documentation and signature are in order.

The Form 4 clearly indicates the transaction was made pursuant to a 10b5-1 plan, which typically provides an affirmative defense against insider trading claims if properly adopted. The form discloses the transaction code and resulting beneficial ownership, and is executed by an authorized signatory. No amendments or additional material disclosures appear in the filing. From a governance perspective, this is a standard, compliant insider disclosure.

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^*

Broz Steven

(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 Information Officer

3. Date of Earliest Transaction (Month/Day/Year)
08/22/2025

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	08/22/2025		S(1)		1,345	D	$250.78	31,732.793	D

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 January 30, 2025.

	/s/ Sarah R. D'Amore, By Power of Attorney	08/25/2025
	** 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.

FAQ

What did PGR insider Steven Broz sell?

He sold 1,345 shares of Progressive common stock on 08/22/2025 at a reported price of $250.78 per share.

Was the sale by the PGR insider part of a pre-planned trading arrangement?

Yes. The Form 4 states the transaction was made pursuant to a 10b5-1 trading plan adopted on January 30, 2025.

How many PGR shares does Steven Broz own after the sale?

The filing reports he beneficially owns 31,732.793 shares following the reported transaction.

Who signed the Form 4 for Steven Broz?

The Form 4 was signed by power of attorney by Sarah R. D'Amore on 08/25/2025.

Does the Form 4 report any derivative transactions for PGR?

No. Table II (derivative securities) contains no reported derivative transactions in this filing.