Form 4: Progressive CIO Gifts Shares Under 10b5-1 Plan
Insider Transaction Report
Progressive Corp's Chief Investment Officer, Jonathan S. Bauer, reported gifting 450 shares of common stock on November 28, 2025, under a pre-arranged 10b5-1 trading plan.
Summary
- Jonathan S. Bauer, Chief Investment Officer of Progressive Corp (PGR), reported a disposition of common stock.
- On November 28, 2025, 450 shares of common stock were disposed of.
- The transaction was a gift, indicated by a $0 price.
- The disposition was executed pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on August 21, 2025.
- Following this transaction, Bauer directly owns 26,247.516 shares and indirectly owns 115.236 shares through a 401(k) Plan.
Sentiment
Score: 5
Explanation: A routine insider transaction (gift of shares) under a pre-arranged 10b5-1 plan, which is neutral in terms of company performance or outlook.
Positives
- The transaction was conducted under a Rule 10b5-1 trading plan, indicating pre-planned and transparent insider activity.
Negatives
- A disposition of shares, even as a gift, slightly reduces insider ownership.
Future Outlook
This filing does not contain any forward-looking statements or guidance regarding the company's future performance or outlook.
Industry Context
This insider transaction is a routine disclosure and does not provide specific insights into broader industry trends or competitive landscape for the insurance sector.
Stakeholder Impact
- Shareholders: A minor reduction in direct insider ownership, but the overall impact is negligible given the company's size and the nature of the transaction.
Key Dates
| Date | Description |
|---|---|
| 08/21/2025 | Date the 10b5-1 trading plan was adopted by Jonathan S. Bauer. |
| 11/28/2025 | Date of the reported transaction (disposition of common stock). |
| 12/01/2025 | Date the Form 4 was signed. |
Recommendation
holdThis Form 4 reports a routine insider gift of a relatively small number of shares under a pre-arranged 10b5-1 plan. It does not provide new information regarding the company's financial performance, strategic direction, or operational health that would warrant a change in investment recommendation.
Keywords
Progressive Corp, PGR, Form 4, Insider Transaction, Stock Disposition, 10b5-1 Plan, Chief Investment Officer, Jonathan S. Bauer
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