Burgdoerfer Stuart B 4
4 · PROGRESSIVE CORP/OH/ · Filed May 12, 2026
Research Summary
AI-generated summary of this filing
Progressive (PGR) Director Stuart Burgdoerfer Receives Restricted Stock Award
What Happened
Stuart Burgdoerfer, a director of The Progressive Corporation (PGR), was granted 1,238 restricted shares on 2026-05-08 (transaction code A). The shares were issued at $0.00 (standard for restricted awards) and will vest on April 9, 2027. The award represents 60% of his compensation for the 2026–2027 director term; the remaining 40% will be paid in cash on April 9, 2027.
Key Details
- Transaction date: 2026-05-08; Form 4 filed 2026-05-12.
- Security: 1,238 restricted shares granted at $0.00 (award).
- Vesting: Shares vest April 9, 2027. Cash payment for the remaining 40% of compensation also authorized on April 9, 2027.
- Plan: Granted under The Progressive Corporation Amended and Restated 2017 Directors Equity Incentive Plan.
- Shares owned after transaction: Not specified in the filing.
- Filing timeliness: Form 4 filed on 2026-05-12; the filing does not indicate a late report code.
Context
This was a compensation grant to a director, not an open-market purchase or sale. Restricted stock awards are common for director pay and are subject to vesting and company policies; they do not by themselves indicate the insider buying or selling stock for investment reasons.
Insider Transaction Report
- Award
Common
[F1]2026-05-08+1,238→ 13,455 total
- 11(indirect: By Spouse)
Common
Footnotes (1)
- [F1]Restricted stock grant made pursuant to The Progressive Corporation Amended and Restated 2017 Directors Equity Incentive Plan, and which will vest on April 9, 2027. The Progressive Corporation allowed each director to indicate his or her preference to receive compensation for the 2026-2027 term in the form of 100% restricted stock or 60% restricted stock and 40% cash. The reporting person indicated a preference to receive compensation in the form of 60% restricted stock and 40% cash. After considering such preference, the Compensation and Talent Committee granted a restricted stock award representing 60% of the reporting person's compensation for the 2026-2027 term, and authorized a cash payment on April 9, 2027, for the remaining 40% of the reporting person's compensation.