DAY HEATHER E 4

What Happened Heather E. Day, CRM President of Progressive (PGR), was granted 1.803 Restricted Stock Units (RSUs) on 2026-07-10. The award is reported as a derivative grant (transaction code A) at $0.00 per unit, so no cash changed hands. These RSUs represent a contingent right to receive common shares at a future vesting date.

Key Details

• Transaction date: 2026-07-10; Form 4 filed: 2026-07-14 (appears to be later than the typical two-business-day Form 4 deadline).
• Grant: 1.803 RSUs @ $0.00 (derivative award); total reported value: $0.
• Shares owned after transaction: not disclosed in this filing.
• Footnotes from the filing:
  • F1: Each RSU represents a contingent right to one common share.
  • F2: These units were acquired via reinvestment of dividend equivalents and will vest alongside the related RSUs.
  • F3: Expiration date equals date exercisable (i.e., timing tied to vesting/exercisability).
• Transaction code: A = Award/Grant.

Context This was an RSU award (not an open-market purchase or sale), meaning Heather Day does not immediately receive issued shares — the units convert to shares only upon vesting. The small size (1.803 units) and the footnote about reinvested dividend equivalents suggest these may reflect dividend reinvestment rather than a new large compensation grant. Awards and dividend reinvestments are common and do not necessarily signal a change in an insider's view of the stock.