Bleser Philip 4

What Happened
Philip Bleser, a director of The Progressive Corporation (PGR), was granted 1,145 restricted shares on May 8, 2026. The shares were awarded at $0.00 per share (a grant, not a purchase) and will vest on April 9, 2027. The award represents 60% of Bleser’s compensation for the 2026–2027 director term; the remaining 40% will be paid in cash on April 9, 2027.

Key Details

• Transaction date and type: 2026-05-08 — Award/Grant (Form 4 code A).
• Price: $0.00 per share (restricted stock grant).
• Shares granted: 1,145 restricted shares.
• Vesting: April 9, 2027.
• Plan: Granted under The Progressive Corporation Amended and Restated 2017 Directors Equity Incentive Plan.
• Director election: Bleser elected a 60% restricted-stock / 40% cash mix; award equals the 60% portion. Cash for the remaining 40% authorized for payment on Apr 9, 2027.
• Shares owned after transaction: Not disclosed in this filing.
• Filing timeliness: Form 4 filed 2026-05-12 for a 2026-05-08 transaction — filed within the standard 2 business-day window.

Context
This was a routine director compensation grant of restricted stock (code A). Restricted shares do not fully transfer until vesting, so this is not an immediate market purchase or sale. Such grants are common for board pay and should be read as compensation rather than a direct buy/sell signal.