[Form 4] Progressive Corporation Insider Trading Activity

Rhea-AI Filing Summary

On 28 July 2025, CĪON Investment Corporation (NYSE:CION) reported the results of its 2025 Annual Meeting of Shareholders (Form 8-K, Item 5.07). Of 52.59 million eligible shares, 36.22 million (≈69%) were voted.

• Director elections: Edward J. Estrada (12.28 M for / 4.18 M withheld), Peter I. Finlay (11.32 M / 5.14 M), and Earl V. Hedin (12.25 M / 4.21 M) were elected to serve until the 2028 annual meeting.
• Auditor ratification: RSM US LLP was approved as independent registered public accounting firm for FY 2025 with 35.13 M for, 0.35 M against, 0.74 M abstentions; no broker non-votes.

No other proposals, financial data, or operational updates were disclosed. The filing is routine in nature and does not indicate any material change to CION’s strategy, earnings outlook, or capital structure.

Insights

Corporate Governance Analyst

TL;DR: Routine annual-meeting 8-K; directors re-elected and auditor ratified—no material impact.

The disclosure solely covers shareholder voting results. All three incumbent directors secured comfortable majorities, indicating continued investor support for existing governance. Ratification of RSM US LLP suggests no audit-related concerns. With 69% turnout and zero broker non-votes, shareholder engagement appears adequate. However, because there are no financial metrics, strategic announcements, or contentious proposals, the event is unlikely to affect valuation or risk profile.

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^*

Stringer David M

(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)
	Vice Pres, Secretary and CLO

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)		569.167	A	$0	4,029.846	D
Common	07/25/2025		F		257	D	$249.44	3,772.846	D
Common								81.961	I	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. 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).
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

How many CION shares were voted at the 2025 Annual Meeting?

36,221,873 shares, representing about 69% of the 52,591,682 shares eligible to vote.

Which directors did CION shareholders elect in July 2025?

Shareholders elected Edward J. Estrada, Peter I. Finlay, and Earl V. Hedin to serve until the 2028 meeting.

Was RSM US LLP ratified as CION’s auditor for FY 2025?

Yes. The proposal received 35,127,474 votes for, 352,210 against, and 742,189 abstentions.

Did the 8-K disclose any financial results or guidance?

No. The filing covers only shareholder voting outcomes; no earnings or guidance were provided.

What is the trading symbol for CION Investment Corporation?

CION’s common stock trades on the NYSE under the symbol CION; its 7.50% Notes due 2029 trade as CICB.