Bailo Karen 4

What Happened
Karen Bailo, Commercial Lines President at Progressive (PGR), was granted 3,413 restricted stock units (RSUs) on March 24, 2026. The award was reported as an acquisition at $0.00 per unit (typical for compensation grants); these are derivative awards that convert to common shares only if and when they vest.

Key Details

• Transaction date: 2026-03-24; Form 4 filed: 2026-03-25 (filed within one day of the transaction).
• Transaction type/code: Award/Grant (A); recorded acquisition price: $0.00.
• Units granted: 3,413 Restricted Stock Units (derivative securities, not immediate common shares).
• Shares owned after transaction: Not disclosed in this filing.
• Footnotes:
  • F1: Each RSU represents a contingent right to receive one common share.
  • F2: Vesting in three equal annual installments: Jan 16, 2029; Jan 15, 2030; Jan 21, 2031 (subject to plan terms and forfeiture).
  • F3: Expiration Date equals Date Exercisable (per filing).

Context
RSU grants are a common form of executive compensation and do not represent an immediate purchase or sale of stock; they only convert to shares upon vesting (and may be subject to forfeiture). This grant does not by itself indicate buying or selling sentiment—it's a compensation award with multi-year vesting. The filing was submitted promptly (next day).