Progressive (PGR) CIO Jonathan Bauer Receives 5.27 RSU Award

What Happened

• Jonathan S. Bauer, Chief Investment Officer of Progressive Corp (PGR), was credited with 5.27 restricted stock units (RSUs) on 2026-07-10. The units were reported as an award/acquisition at $0.00 per unit (derivative transaction), so no cash was paid or received in this transaction.

Key Details

• Transaction date: 2026-07-10. Filing date (Form 4): 2026-07-14 (Accession: 0000080661-26-000225).
• Shares/units acquired: 5.27 RSUs; reported price: $0.00; reported value: $0 (derivative award).
• Shares owned after transaction: not specified in the provided filing excerpt.
• Footnotes:
  • F1: Each Restricted Stock Unit represents a contingent right to receive one common share.
  • F2: These units were acquired upon reinvestment of dividend equivalents and will vest at the same time as the related RSUs.
  • F3: Expiration Date is the same as the Date Exercisable (as noted in the filing).
• Timeliness: Filing date follows the 2026-07-10 transaction; Form 4s are generally due within two business days, and this filing appears to be within the normal reporting window.

Context

• This was an award/derivative credit (RSUs/dividend-equivalent reinvestment), not an open-market purchase or sale. Such small award amounts are typically administrative (e.g., dividend reinvestment) rather than a directional trading signal. RSUs represent a contingent claim on shares that will convert to actual shares upon vesting per the noted footnotes.