Form 4: Progressive Officer Acquires RSUs via Dividend Reinvestment

Progressive's Chief Accounting Officer, Carl G. Joyce, acquired 119.289 Restricted Stock Units through dividend reinvestment, increasing his total beneficial ownership to 1,983.384 units.

Summary

• Carl G. Joyce, Chief Accounting Officer of Progressive Corp/OH/, reported a change in beneficial ownership.
• Acquired 119.289 Restricted Stock Units (RSUs) on January 8, 2026.
• These units were obtained through the reinvestment of dividend equivalents.
• Each RSU represents a contingent right to receive one Common Share of the company's stock.
• The acquired units will vest at the same time as the Restricted Stock Units to which they relate, with a date exercisable and expiration date of January 8, 2026.
• The price of the derivative security (RSU) was $0, consistent with dividend reinvestment.
• Following this transaction, Carl G. Joyce beneficially owns 1,983.384 derivative securities (Restricted Stock Units) directly.

Sentiment

Score: 6

Explanation: The Chief Accounting Officer increased his beneficial ownership of Restricted Stock Units through dividend reinvestment, indicating a continued stake in the company.

Positives

• The Chief Accounting Officer increased his beneficial ownership in the company, albeit passively through dividend reinvestment, which can be seen as a continued alignment of interests with shareholders.

Future Outlook

NA

Industry Context

NA

Stakeholder Impact

• Shareholders: A minor positive signal as an executive's stake in the company increases, aligning interests.

Next Steps

• The acquired Restricted Stock Units will vest on January 8, 2026, at which point they will convert into common shares.

Key Dates

Recommendation

This Form 4 reports a routine acquisition of Restricted Stock Units by a company officer through dividend reinvestment, which is a passive increase in holdings and does not provide new fundamental information to alter an investment recommendation.

Keywords

Progressive Corp, PGR, Carl G. Joyce, Chief Accounting Officer, Restricted Stock Units, RSU, Dividend Reinvestment, Insider Transaction, SEC Form 4