Callahan Patrick K 4

What Happened

• Patrick K. Callahan, Personal Lines President at Progressive Corporation (PGR), received two grants of restricted stock units (RSUs) on July 10, 2026: 6.687 RSUs and 42.837 RSUs, for a total of 49.524 RSUs. The reported acquisition price is $0 because these are equity awards (derivative securities), not open-market purchases or sales.

Key Details

• Transaction date: 2026-07-10. Form 4 filed: 2026-07-14 (filed 4 days after the transaction; appears to be a late filing relative to the typical 2-business-day Form 4 deadline).
• Price: $0 (award/grant of RSUs).
• Total units granted: 49.524 RSUs.
• Shares owned after transaction: not specified in the filing.
• Relevant footnotes from the filing:
  • F1: Each RSU represents a contingent right to receive one common share.
  • F2/F5: Some units were acquired upon reinvestment of dividend equivalents; those units vest/pay out according to the plan (F2: vest with related RSUs; F5: may be paid in cash when elected).
  • F4: 1-for-1 conversion ratio to common shares.
• Transaction type: Award/Grant (code A) — compensation-related, not a market purchase or sale.

Context

• RSUs are compensation awards that convert to shares (or cash in certain cases) according to the company’s plan and vesting schedule; no cash changed hands at grant. Such awards are routine for executives and do not by themselves indicate buying or selling sentiment. The filing’s delayed date may be a minor compliance timing issue but does not change the nature of the award.