Sauerland John P 4

What Happened

• John P. Sauerland, Chief Financial Officer of Progressive Corp. (PGR), was granted/acquired 8.508 restricted stock units (RSUs) on 2026-04-10. The units were recorded at $0.00 per unit (derivative award) and have no immediate cash value; they represent contingent rights to receive common shares if and when they vest.

Key Details

• Transaction date: 2026-04-10; Form 4 filed: 2026-04-14 (filed within the two-business-day window for a timely Form 4 filing).
• Transaction type/code: A (Award/Grant/Other Acquisition); reported as a derivative acquisition.
• Quantity and price: 8.508 units at $0.00 each; aggregate amount reported $0.
• Shares owned after transaction: not disclosed in the provided filing excerpt.
• Relevant footnotes:
  • F1: Each Restricted Stock Unit represents a contingent right to receive one common share upon vesting.
  • F2: These specific units were acquired through reinvestment of dividend equivalents and will vest at the same time as the related RSUs.
  • F3: “Expiration Date is the same as the Date Exercisable” (as noted in filing).
• No 10b5-1 plan, sale, or tax-withholding details were indicated in the provided summary.

Context

• RSUs are deferred/contingent equity awards — they do not represent immediate share ownership or a market purchase/sale. These units likely reflect routine compensation or dividend-equivalent reinvestment activity rather than an expressed buy or sell signal. Retail investors should view this as a standard equity-compensation event rather than direct insider buying.