Form 4: Progressive Corp Director Danelle Marie Barrett Reports Changes in Beneficial Ownership

Director Danelle Marie Barrett reports acquisition and disposal of Progressive Corp common stock related to a restricted stock grant.

Summary

• On May 10, 2024, Danelle Marie Barrett, a director of Progressive Corp, reported changes in beneficial ownership of the company's common stock.
• Barrett acquired 904 shares of common stock at $0, and disposed of 2,254 shares.
• Following the transaction, Barrett directly owns 2,254 shares.
• The acquisition is related to a restricted stock grant made under The Progressive Corporation Amended and Restated 2017 Directors Equity Incentive Plan.
• The restricted stock will vest on April 11, 2025.
• Barrett elected to receive 60% of her compensation for the 2024-2025 term in restricted stock and 40% in cash.

Sentiment

Score: 5

Explanation: The document is a neutral regulatory filing detailing stock transactions related to director compensation.

Positives

• The restricted stock grant aligns the director's interests with those of the shareholders.

Future Outlook

The director will receive a cash payment on April 11, 2025, representing 40% of her compensation for the 2024-2025 term.

Industry Context

This filing is a routine disclosure of changes in beneficial ownership by a company director, which is common practice for publicly traded companies.

Stakeholder Impact

• The transaction has a minor impact on shareholders as it reflects a director's compensation structure.

Key Dates