Burgdoerfer Stuart B 4

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.