Form 4: Progressive Corp Director Bleser Reports Changes in Beneficial Ownership

Director Philip Bleser reports changes in beneficial ownership of Progressive Corp shares due to deferred compensation plan elections and reinvestment of dividend equivalents.

Summary

• On April 11, 2025, Philip Bleser, a director of Progressive Corp, reported changes in his beneficial ownership of the company's common stock.
• Bleser disposed of 974 common shares at $0 per share due to electing to defer receipt of previously granted restricted common shares upon vesting, exchanging them for an equal number of units under a deferred compensation plan.
• He also acquired 974 phantom stock units related to the deferred shares.
• Additionally, Bleser acquired 8.3552 phantom stock units through the reinvestment of dividend equivalents.
• These units will be paid out in cash or an equal number of common shares at a time elected by Bleser, or as determined by the plan.
• Following these transactions, Bleser directly owns 22,782.6056 phantom stock units.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing detailing changes in beneficial ownership due to compensation and dividend reinvestment. It doesn't contain information that would significantly impact investor sentiment positively or negatively.

Future Outlook

The phantom stock units will be paid out in cash or an equal number of common shares at a time elected by the reporting person or at such other time determined in accordance with the plan.

Industry Context

Form 4 filings are a routine part of insider trading regulations, providing transparency into the transactions of company insiders. This filing indicates changes in beneficial ownership due to compensation-related activities, which are common in publicly traded companies.

Key Dates

Keywords

beneficial ownership, Progressive Corp, director, Form 4, deferred compensation, phantom stock units, dividend equivalents, PGR