Van Dyke Kahina 4

What Happened

• Kahina Van Dyke, a director of The Progressive Corporation (PGR), was granted 1,856 restricted shares on 2026-05-08. The Form 4 reports an acquisition price of $0 (code A — award/grant). The restricted shares were granted under The Progressive Corporation Amended and Restated 2017 Directors Equity Incentive Plan and will vest on April 9, 2027.
• The award represents 100% of Van Dyke’s compensation for the 2026–2027 director term; she elected to receive 100% of her director compensation in restricted stock rather than a cash/cash+stock split.

Key Details

• Transaction date: 2026-05-08; Filing date (Form 4): 2026-05-12 (filed within the two-business-day requirement).
• Transaction type/code: Award/Grant (A).
• Shares awarded: 1,856 restricted shares; reported acquisition price: $0.00.
• Vesting: April 9, 2027 (per footnote).
• Plan: The Progressive Corporation Amended and Restated 2017 Directors Equity Incentive Plan.
• Shares owned after the transaction: not disclosed in the provided excerpt.
• No 10b5-1 plan, tax-withholding, or immediate sale reported.

Context

• This is a routine director compensation award to align the director’s interests with shareholders; it is not a market purchase or sale and therefore is less of a direct bullish/sell signal than open-market trades.
• Restricted shares vest over time (here about 11 months), which encourages continued service; the reported $0 acquisition price reflects a grant, not a cash purchase.