Craig Pamela J. 4

What Happened
Pamela J. Craig, a director of The Progressive Corporation (PGR), was granted 1,207 restricted shares on May 8, 2026. The shares were issued at $0.00 per share (award, not a purchase), so the reported acquisition value is $0. This award represents 60% of her 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 (filed within the two-business-day Form 4 deadline).
• Transaction type/code: A = Award/Grant; 1,207 restricted shares granted @ $0.00.
• Vesting: Restricted shares vest on April 9, 2027.
• Compensation mechanics: Director elected 60% restricted stock / 40% cash; Committee granted restricted stock equal to the 60% portion and authorized cash payment for the 40% on 4/9/2027.
• Shares owned after transaction: not specified in the provided filing excerpt.
• Footnote: Award made under The Progressive Corporation Amended & Restated 2017 Directors Equity Incentive Plan.

Context
This was a routine director compensation award (not a market purchase or sale). Restricted stock grants are common for non-employee directors and typically reflect compensation choices and retention; because the shares vest on a future date and part of the pay is cash, this transaction does not directly indicate immediate buying or selling sentiment.