Pumarejo Maribel 4

What Happened

• Maribel Pumarejo, Chief Marketing Officer of Progressive (PGR), received a grant of 2,682 restricted stock units (RSUs) on 2026-03-24. The filing lists the acquisition price as $0.00 (award), and the grant is reported as a derivative award rather than an open-market purchase or sale.
• Each RSU represents a contingent right to one common share (footnote F1). The grant does not require cash outlay now and has no immediate market value reported on the Form 4.

Key Details

• Transaction date: 2026-03-24; Form 4 filed: 2026-03-25 (timely filing).
• Grant type/code: A (award/grant), derivative instrument (RSUs).
• Units granted: 2,682 RSUs; reported acquisition price: $0.00.
• Vesting schedule (footnote F2): three equal annual installments vesting on Jan 16, 2029; Jan 15, 2030; and Jan 21, 2031, subject to plan and award agreement terms.
• Footnote F3: "Expiration Date is the same as the Date Exercisable" (as noted in the filing).
• Shares owned after transaction: not specified in the provided filing details.

Context

• RSUs are a common form of executive compensation: they convert to shares (and usually taxable income) only when they vest or are settled. This grant does not represent an immediate purchase or sale of shares and does not directly signal a near-term market action.
• For retail investors: awards like this can dilute existing shares over time when settled, and taxes/withholding typically occur at vesting or settlement. This is a compensation award, not an open-market trade.