Pumarejo Maribel 4

What Happened

• Maribel Pumarejo, Chief Marketing Officer of Progressive (PGR), had 1,111.684 restricted stock units (RSUs) vest on January 20, 2026. Those RSUs converted into 1,111.684 common shares (reported as an exercise/conversion of a derivative).
• To satisfy tax withholding, 373 shares were disposed on the same date at $201.32 per share, generating $75,092. The net shares retained from the vesting were 738.684 shares (1,111.684 vested minus 373 withheld).
• This was not a market purchase but a routine compensation event (vesting) with a sell-to-cover for taxes.

Key Details

• Transaction date: January 20, 2026; Form 4 filed January 22, 2026 (timely filing).
• Vesting/conversion: 1,111.684 RSUs converted to common shares at $0 exercise price (RSUs convert 1-for-1 to common shares).
• Tax withholding sale: 373 shares sold at $201.32 each for total proceeds of $75,092.
• Net shares received: 738.684 shares retained after withholding.
• Footnotes: RSUs vested on Jan 20, 2026; each RSU equals one common share; the Form reports the exchange of vested RSUs for common shares and the share disposition to cover tax liability.

Context

• This is a compensation-related vesting (award), not an open-market buy or a voluntary sale indicating a trading view. Sell-to-cover tax withholding is common when RSUs vest.
• For retail investors: purchases by insiders often attract more attention than routine vesting events. This filing shows no additional open-market purchases or discretionary sales beyond tax withholding.