[Form 4] Progressive Corporation Insider Trading Activity
Rhea-AI Filing Summary
Reporting person: Lawton W. Fitt, a director of Progressive Corporation (PGR), reported a Section 16 transaction dated 07/11/2025.
The filing shows the acquisition of 54.7412 restricted phantom stock units through the reinvestment of dividend equivalents at a $0 price. Those units correspond to 54.7412 underlying common shares and are payable in cash when elected under the plan. After this transaction the reporting person beneficially owns 135,180.6528 shares (direct). The Form 4 was signed by Sarah R. D'Amore by power of attorney on 07/15/2025.
Positive
- None.
Negative
- None.
Insights
TL;DR: Routine dividend-equivalent reinvestment increased a director's direct beneficial ownership modestly; no cash consideration was paid.
This Form 4 documents a non-cash acquisition of 54.7412 phantom restricted stock units resulting from reinvested dividend equivalents. The units carry a $0 acquisition price and will be paid in cash per plan terms when elected, indicating a compensation-related vesting event rather than an open-market purchase. The post-transaction direct beneficial ownership figure of 135,180.6528 shares provides context on the director's stake but the disclosed increment is small relative to typical institutional positions and does not signal a meaningful change in control or voting power.
TL;DR: Disclosure aligns with Section 16 requirements and describes a plan-based dividend reinvestment; documentation appears complete.
The filing identifies the reporting person as a director and clearly states the nature of the units acquired as dividend-equivalent reinvestments payable in cash under the plan. The $0 price and the note that the expiration equals the exercisable date match typical restricted unit treatments. The power-of-attorney signature and required fields are present, supporting compliance with filing formalities. No amendments or additional conditions are reported.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Phantom Stock Unit (rest. Stock) | 54.741 | $0.00 | -- |
Footnotes (1)
- 1 for 1 These units, which were acquired upon the reinvestment of dividend equivalents, will be paid out in cash at the time elected by the reporting person or at such other time determined in accordance with the plan. Expiration Date is the same as the Date Exercisable.
