[Form 4] Progressive Corporation Insider Trading Activity

Rhea-AI Filing Summary

Progressive Corp. (PGR) – Form 4 insider filing

Chief Strategy Officer Andrew J. Quigg reported two transactions dated 25 Jul 2025 arising from the vesting of his 2022 performance-based restricted stock units:

• Code A (award): 11,578.499 common shares were issued at $0.00, increasing direct holdings to 46,365.37 shares.
• Code F (tax withholding): 5,197 shares were surrendered at $249.44, leaving 41,168.37 shares held directly after the withholding.

No derivative securities were listed. Net result: Quigg’s direct ownership rose by 6,381.499 shares, an approximate 18% increase. The activity reflects routine equity award vesting rather than open-market buying or selling, and carries no immediate operational or financial impact on Progressive.

Insights

Securities Analyst

TL;DR: Routine RSU vesting; executive net ownership up; negligible company impact.

The filing shows standard vesting mechanics—shares issued then partially withheld to cover taxes. Quigg retains roughly 41k shares, up 6.4k (+18%). No cash outflow from the company and no open-market disposition, so market signalling is minimal. Investors generally view net increases by insiders as slightly supportive but, given Progressive’s 585 m share float, the event is immaterial to valuation or liquidity.

Corporate Governance Expert

TL;DR: Administrative disclosure, aligns with equity-based compensation policies.

The RSU vesting is consistent with Progressive’s long-term incentive plan. Code F indicates shares were withheld, not sold, to settle payroll taxes—standard practice that avoids insider-trading windows. The sizeable remaining stake maintains executive alignment with shareholder interests. There are no red flags regarding compliance or unusual timing.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider Quigg Andrew J

Role Chief Strategy Officer

Type	Security	Shares	Price	Value
Grant/Award	Common	11,578.499	$0.00	--
Tax Withholding	Common	5,197	$249.44	$1.30M

Holdings After Transaction: Common — 46,365.37 shares (Direct)

Footnotes (1)

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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).

1. Name and Address of Reporting Person^*

Quigg Andrew J

(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 Strategy Officer

3. Date of Earliest Transaction (Month/Day/Year)
07/25/2025

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	07/25/2025		A(1)		11,578.499	A	$0	46,365.37	D
Common	07/25/2025		F		5,197	D	$249.44	41,168.37	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. These shares were issued pursuant to the vesting of performance-based restricted stock unit awards made in 2022, including dividend equivalents accrued since the grant date.

	/s/ Sarah R. D'Amore, By Power of Attorney	07/29/2025
	** 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).
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