FARAH ROGER N 4

What Happened

• Roger N. Farah, a director of The Progressive Corporation (PGR), received a restricted stock award of 2,011 shares on 2026-05-08. The grant was reported on a Form 4 filed 2026-05-12. The award price is listed as $0.00 (no cash paid); the filing does not state a total dollar value. This award represents 100% of Farah’s director compensation for the 2026–2027 term.

Key Details

• Transaction type/code: Award/Grant (A).
• Transaction date: 2026-05-08; Form 4 filed: 2026-05-12 (within the two-business-day reporting window).
• Shares granted: 2,011 restricted shares at $0.00 per share (no cash paid).
• Vesting: These restricted shares vest on April 9, 2027.
• Plan/authorization: Grant made under The Progressive Corporation Amended and Restated 2017 Directors Equity Incentive Plan. Farah elected to receive 100% of his 2026–2027 compensation as restricted stock; the Compensation and Talent Committee approved the award.
• Shares owned after transaction: Not specified in the provided filing excerpt.

Context

• This is a director compensation award, not an open-market purchase or sale. Such grants are routine for board pay and reflect compensation elections rather than a direct buy/sell signal about the director’s market view.
• The shares are restricted and subject to vesting, so they are not freely tradable until vesting conditions are met.