Bauer Jonathan S. 4

What Happened

• Jonathan S. Bauer, Chief Investment Officer of Progressive (PGR), was granted 2,926 restricted stock units (RSUs) on 2026-03-24. The Form 4 reports the award as a derivative grant (transaction code A) at $0.00 per unit (total reported value $0).

Key Details

• Transaction date: 2026-03-24; Form 4 filed 2026-03-25 (timely filing).
• Transaction type/code: Award/Grant of RSUs (A); reported as derivative.
• Number of units granted: 2,926 RSUs.
• Price/value reported: $0.00 per unit; total $0 reported in the filing.
• Shares owned after transaction: Not disclosed in the provided filing details.
• Footnotes: F1 — each RSU represents the contingent right to one common share; F2 — RSUs vest in three equal annual installments on Jan 16, 2029; Jan 15, 2030; and Jan 21, 2031 (subject to plan/agreement); F3 — expiration date equals date exercisable per filing.

Context

• These RSUs are a deferred equity award, not an immediate stock purchase or sale. No shares were delivered or sold at grant; the units convert to shares only if/when they vest according to the schedule. This type of grant is common for executive compensation and does not by itself signal a buy or sell decision by the insider.