Johnson Devin C 4

What Happened
Devin C. Johnson, a director of The Progressive Corporation (PGR), was granted 1,908 restricted shares on 2026-05-08. The shares were awarded (reported acquisition) at a reported price of $0.00 because they were issued as compensation under the company’s director equity plan.

Key Details

• Transaction date: 2026-05-08; Report filed: 2026-05-12 (filing appears to meet the SEC’s 2-business-day Form 4 requirement).
• Shares granted: 1,908 restricted common shares; reported acquisition price: $0.00 (award).
• Vesting: The award vests on April 9, 2027 (per footnote).
• Plan and election: Award made under The Progressive Corporation Amended and Restated 2017 Directors Equity Incentive Plan. The director elected to receive 100% of his 2026–2027 director compensation in restricted stock; the Compensation and Talent Committee granted the award to reflect that election.
• Shares owned after transaction: Not specified in the provided filing excerpt.

Context
This was a compensation award (restricted stock) for director service, not an open-market purchase or sale. Restricted shares typically vest over time and can be forfeited if service conditions aren’t met, so these grants reflect pay delivery rather than an immediate market sentiment by the insider.