Murphy John Jo 4

What Happened

• John Murphy, Claims President at Progressive (PGR), had 5,423.114 restricted stock units (RSUs) vest on January 20, 2026 and those RSUs converted into 5,423.114 common shares. To cover tax withholding, 1,723 shares were surrendered/withheld at $201.32 per share, generating $346,874. The net increase to his holdings from this vesting was 3,700.114 shares.
• The filing shows the RSU conversion (transaction code M) and the tax withholding/payment (code F). Using the reported $201.32 price, the gross value of the vested shares is about $1.09M and the net value retained is about $745K (approximate; based on the reported per-share price).

Key Details

• Transaction date: January 20, 2026; Form 4 filed January 22, 2026 (appears timely).
• Vesting/Conversion: 5,423.114 RSUs converted to Common Shares (code M).
• Tax withholding/payment: 1,723 shares surrendered at $201.32 each, totaling $346,874 (code F).
• Net shares added: 3,700.114 shares retained after withholding.
• Footnotes: RSUs vested on Jan 20, 2026; each RSU equals one Common Share; the filing reports conversion of RSUs and share-for-tax withholding (not an open-market sale).
• Shares owned after transaction: not specified in the provided excerpt of the filing.

Context

• This was the vesting and conversion of RSU awards, with shares withheld to satisfy tax obligations — a routine corporate compensation event rather than a discretionary open-market buy or sell by the insider.
• For retail investors, note that such withholding/surrender of shares to cover taxes is common and does not necessarily indicate a view on the company’s stock.