DAVIS CHARLES A 4
4 · PROGRESSIVE CORP/OH/ · Filed Apr 14, 2026
Research Summary
AI-generated summary of this filing
Progressive (PGR) Director Charles A. Davis Exchanges Shares for Deferred Units
What Happened
Charles A. Davis, a director of Progressive (PGR), reported on 2026-04-10 that he disposed of 1,248 restricted common shares to the issuer in exchange for deferred-compensation units and also acquired three lots of derivative units: 2.561 units, 1,248 units, and 11.136 units (total acquired = 1,261.697 units). All reported transactions show $0 cash price — this was an in-kind conversion/award into plan units, not a market sale or cash purchase.
Key Details
- Transaction date: 2026-04-10; Form 4 filed 2026-04-14 (filed within the standard 2 business‑day window).
- Disposition: 1,248 restricted shares surrendered to the issuer (reported as "D"), price $0.
- Acquisitions (derivative units): 2.561, 1,248.000, and 11.136 units (reported as "A"), total 1,261.697 units, price $0.
- Amount owned after the transactions: not specified in the provided filing excerpt.
- Footnotes summary:
- F1: Reporting person elected to defer previously granted restricted shares upon vesting; the restricted shares were exchanged for an equal number of deferred‑compensation units.
- F2: 1-for-1 conversion noted.
- F3: Some units arose from reinvested dividend equivalents; those units may be paid out in cash when elected.
- F4: (Not directly applicable to these in-kind conversions) expiration date equals date exercisable.
- F5: Units can be paid out in an equal number of common shares when elected.
Context
This filing reflects a deferral/award conversion (restricted shares → plan units) rather than an open‑market sale or a cash purchase. Such transactions are typically administrative (deferred compensation and dividend reinvestment) and do not on their own indicate buying or selling for cash proceeds.
Insider Transaction Report
- Disposition to Issuer
Common
[F1]2026-04-10−1,248→ 248,974 total - Award
Phantom Stock Units
[F2][F3][F4]2026-04-10+2.561→ 5,038.955 total→ Common (2.561 underlying) - Award
Phantom Stock Unit (rest. Stock)
[F2][F5][F4]2026-04-10+1,248→ 21,900.457 total→ Common (1,248 underlying) - Award
Phantom Stock Unit (rest. Stock)
[F2][F3][F4]2026-04-10+11.136→ 21,911.593 total→ Common (11.136 underlying)
Footnotes (5)
- [F1]The reporting person elected to defer receipt of previously granted restricted Common Shares upon vesting thereof. This Form 4 reports the disposition of such restricted shares in exchange for an equal number of units under the applicable deferred compensation plan.
- [F2]1 for 1
- [F3]These units, which were acquired upon the reinvestment of dividend equivalents, will be paid out in cash at the time elected by the reporting person or at such other time determined in accordance with the plan.
- [F4]Expiration Date is the same as the Date Exercisable.
- [F5]These units will be paid out in an equal number of Common Shares at the time elected by the reporting person or at such other time determined in accordance with the plan.