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PROGRESSIVE CORP/OH/·4

Mar 25, 1:44 PM ET

Bailo Karen 4

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Progressive (PGR) Commercial Lines President Karen Bailo Receives 3,413 RSU Award

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).