Form 4: Progressive Corp Director Roger Farah Reports Changes in Beneficial Ownership

Director Roger Farah reports the disposition of restricted shares and acquisition of phantom stock units in Progressive Corp.

Summary

• On April 12, 2024, Roger Farah, a director of Progressive Corp, reported changes in beneficial ownership.
• Farah disposed of 2,549 common shares at a price of $0, which were previously granted restricted common shares that he elected to defer receipt of upon vesting.
• In exchange, he acquired 2,549 phantom stock units under the applicable deferred compensation plan.
• Additionally, Farah acquired 67.9527 phantom stock units upon the reinvestment of dividend equivalents.
• Following these transactions, Farah beneficially owns 7,539.3886 common shares directly and 140,308.9507 phantom stock units.
• These units will be paid out in an equal number of Common Shares at the time elected by the reporting person or at such other time determined in accordance with the plan.
• The units acquired upon the reinvestment of dividend equivalents, will be paid out in cash at the time elected by the reporting person or at such other time determined in accordance with the plan.

Sentiment

Score: 5

Explanation: The document reflects routine transactions related to executive compensation and deferred compensation plans, indicating a neutral sentiment.

Future Outlook

The phantom stock units will be paid out in either common shares or cash at a time elected by the reporting person or as determined by the plan.

Industry Context

This filing is a routine disclosure related to executive compensation and deferred compensation plans, common in publicly traded companies.

Stakeholder Impact

• The transactions may have a minor impact on shareholders due to the change in the director's holdings, but the overall impact is likely insignificant.

Key Dates