Form 4: Progressive CIO Sells Shares Under Pre-Arranged 10b5-1 Plan

Progressive's Chief Information Officer, Steven Broz, sold 1,345 shares of common stock for $250.78 per share under a pre-arranged 10b5-1 trading plan.

Summary

• Steven Broz, Chief Information Officer of Progressive Corp (PGR), disposed of 1,345 shares of the company's common stock.
• The transaction occurred on August 22, 2025, at a price of $250.78 per share.
• The sale was executed pursuant to a Rule 10b5-1 trading plan, which was adopted by Mr. Broz on January 30, 2025.
• Following this transaction, Mr. Broz beneficially owns 31,732.793 shares of Progressive common stock.

Sentiment

Score: 5

Explanation: The sale of shares by an insider is generally neutral when executed under a pre-arranged 10b5-1 plan, as it indicates a planned liquidity event rather than a reaction to new, non-public information.

Negatives

• Chief Information Officer Steven Broz sold 1,345 shares of company common stock, which can sometimes be perceived negatively by investors, although mitigated by the 10b5-1 plan.

Stakeholder Impact

• Shareholders: May view the insider sale as a routine liquidity event given the 10b5-1 plan, which typically mitigates negative sentiment associated with insider selling.

Key Dates

Recommendation

The filing reports a routine insider sale under a pre-arranged 10b5-1 plan. This type of transaction does not typically provide new fundamental information about the company's performance or outlook, and therefore does not warrant a change in investment recommendation based solely on this filing.

Keywords

Progressive, PGR, insider trading, Form 4, stock sale, Steven Broz, 10b5-1 plan, Chief Information Officer