KELLY JEFFREY D 4

What Happened
Jeffrey D. Kelly, a director of The Progressive Corporation (PGR), was granted 1,098 restricted shares on 2026-05-08. The shares were awarded at $0.00 (no cash paid at grant) and represent 60% of his director compensation for the 2026–2027 term; the remaining 40% will be paid in cash on April 9, 2027. The restricted shares will vest on April 9, 2027.

Key Details

• Transaction date: 2026-05-08; Form 4 filed: 2026-05-12 (filed within required reporting window).
• Security: Common stock — 1,098 restricted shares granted. Price per share reported: $0.00; total reported cash value at grant: $0.
• Plan: Grant made under The Progressive Corporation Amended and Restated 2017 Directors Equity Incentive Plan.
• Vesting / payment: Restricted shares vest April 9, 2027; cash payment for the remaining 40% of compensation authorized for payment on April 9, 2027.
• Shares owned after transaction: not specified in the provided filing.
• Footnote summary: Director elected a compensation mix of 60% restricted stock / 40% cash; Compensation and Talent Committee granted the 60% restricted-stock portion and authorized the cash payment for the remainder.

Context
This is an equity compensation award to a board director, not a market purchase or sale. Such grants are routine for non-employee directors and do not by themselves indicate insider buying or selling sentiment. The award vests over time (vesting date provided), and no immediate sale or option exercise is indicated in this filing.