4/A: Progressive Corp CEO Corrects Stock Transaction Reporting in Amended SEC Filing

Susan Patricia Griffith, CEO of Progressive Corp, files an amendment to a previous SEC Form 4 to correct the number of common shares withheld for tax purposes related to a restricted stock unit vesting.

Summary

• Susan Patricia Griffith, the President and CEO of Progressive Corp, filed an amended Form 4/A with the SEC on March 21, 2024.
• This amendment corrects a previous filing from March 13, 2024, which understated the number of common shares withheld to satisfy tax obligations.
• The correction relates to the vesting of a performance-based restricted stock unit award granted in 2021, which occurred on March 11, 2024.
• The amended form reports that 6,504 common shares were withheld at a price of $196.84 to cover tax withholding.
• Following the transaction, Griffith beneficially owns 473,734.74 common shares.
• The filing was signed by Allyson L. Bach under Power of Attorney.

Sentiment

Score: 7

Explanation: The document is a routine regulatory filing correcting a minor error. It doesn't indicate any significant positive or negative developments for the company, but transparency is generally viewed favorably.

Industry Context

This filing is a routine disclosure related to executive compensation and stock ownership, common in publicly traded companies. It provides transparency into the transactions of company insiders.

Stakeholder Impact

• The correction ensures accurate reporting of executive stock ownership, which is important for shareholder transparency.

Key Dates