Form 4: Progressive CSO Andrew Quigg Vests Performance Awards, Sells Shares for Tax
Insider Transaction Report
Progressive's Chief Strategy Officer, Andrew J. Quigg, acquired over 11,500 shares through performance-based restricted stock unit vesting and subsequently disposed of a portion for tax obligations.
Summary
- Andrew J. Quigg, Chief Strategy Officer of Progressive Corp/OH/ (PGR), acquired 11,578.499 shares of common stock on July 25, 2025, at a price of $0.
- These shares were issued as a result of the vesting of performance-based restricted stock unit awards granted in 2022, including accrued dividend equivalents.
- Concurrently, Mr. Quigg disposed of 5,197 shares of common stock on July 25, 2025, at a price of $249.44 per share.
- This disposition was for the purpose of satisfying tax withholding obligations related to the vesting of the restricted stock units.
- Following these transactions, Mr. Quigg directly beneficially owns 41,168.37 shares of Progressive common stock.
Sentiment
Score: 7
Explanation: The sentiment is moderately positive. The vesting of performance-based awards indicates successful achievement of prior goals, which is a positive signal. The subsequent sale of shares is for tax purposes, a routine and neutral event, not a discretionary sale.
Positives
- The vesting of performance-based restricted stock units indicates that the company and/or the executive met specific performance targets set in 2022, reflecting positive operational or strategic achievements.
Future Outlook
This filing is a report of past insider transactions and does not contain any forward-looking statements or guidance regarding the company's future performance or outlook.
Industry Context
This Form 4 filing details a routine executive compensation event for a specific company insider. It does not provide information relevant to broader industry trends or competitive dynamics within the insurance sector.
Stakeholder Impact
- Shareholders gain transparency into executive compensation and stock ownership changes, which can influence perceptions of management alignment and company performance.
Key Dates
| Date | Description |
|---|---|
| 2022 | Year performance-based restricted stock unit awards were granted. |
| 07/25/2025 | Date of common stock acquisition due to RSU vesting and subsequent disposition for tax withholding. |
| 07/29/2025 | Date the Form 4 was signed by Power of Attorney. |
Keywords
Progressive Corporation, PGR, Andrew J. Quigg, Chief Strategy Officer, Insider Transaction, Form 4, Restricted Stock Units, Performance Awards, Executive Compensation, Stock Vesting, Tax Withholding
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