Broz Steven 4

What Happened
Steven Broz, Chief Information Officer of Progressive (PGR), had 5,008.833 restricted stock units (RSUs) vest and convert into common shares on January 20, 2026. The RSUs converted at no cash cost to Broz (reported as acquisition at $0). To cover tax withholding, 1,538 shares were surrendered/ disposed at $201.32 per share for a tax payment of $309,630. After withholding, Broz received a net ~3,470.833 shares — using $201.32 as the per-share reference, the vested shares had an approximate gross value of $1.01M and the net shares retained an approximate value of $698,748.

Key Details

• Transaction date: January 20, 2026 (Form 4 filed January 22, 2026 — filed timely under the 2-business-day rule).
• Reported actions/codes: M = conversion/exercise of derivative (RSU conversion to shares); F = payment of tax liability via share withholding.
• Shares: 5,008.833 RSUs vested and converted; 1,538 shares withheld for taxes (disposed) at $201.32/share = $309,630; net ~3,470.833 shares retained.
• Shares owned after transaction: Not disclosed in the provided filing.
• Footnotes: F1–F3 confirm these were RSUs converting into common shares (1 RSU = 1 share) and that units vested on Jan 20, 2026. F4 notes expiration date equals date exercisable (not materially relevant for vested RSUs).

Context
This was a routine vesting of RSU awards with shares withheld to satisfy tax obligations (a stock-settled tax withholding), not an open-market sale or purchase. Such withholding is common and reflects tax payment, not necessarily any change in insider sentiment. The filing appears timely and reports the conversion and withholding transactions.