Craig Pamela J. 4

What Happened Pamela J. Craig, a director of Progressive Corporation (PGR), converted 781 vested restricted common shares into an equal number of deferred compensation units on 2026-04-10 (reported as a disposition to the issuer and an acquisition of derivative units). The transaction shows $0 cash exchanged (781 shares @ $0.00). In addition, Craig acquired 3.584 additional units (derivative) on the same date, attributed to reinvested dividend equivalents. All reported items have $0 total value on the Form 4 because they reflect internal conversions/awards rather than open-market trades.

Key Details

• Transaction date: 2026-04-10; Form 4 filed 2026-04-14 (appears timely within the SEC two-business-day window).
• Reported entries: Disposition to issuer of 781 shares (D) @ $0.00; Grant/acquisition of 781 derivative units (A) @ $0.00; Grant/acquisition of 3.584 derivative units (A) @ $0.00.
• Shares owned after the transaction: not specified in the provided data.
• Notable footnotes:
  • F1: Reporting person elected to defer receipt of vested restricted shares; the restricted shares were exchanged for an equal number of deferred compensation units.
  • F2: Indicates a 1-for-1 exchange.
  • F3: Deferred units will be paid out in an equal number of Common Shares when the director elects or per plan rules.
  • F5: The 3.584 units were acquired via reinvestment of dividend equivalents and will be paid in cash when elected/per plan.
• Transaction codes: D = disposition to issuer (internal conversion), A = grant/award (derivative units).

Context This was not an open-market sale or purchase: it was an internal conversion of vested restricted stock into deferred-compensation units and a small dividend-equivalent reinvestment—common for directors who defer compensation. Such conversions reflect election/tax planning and do not necessarily signal buy/sell intent in the market.