Joyce Carl G 4

What Happened

• Joyce Carl G, Chief Accounting Officer at Progressive (PGR), was granted/acquired 0.98 restricted stock units (RSUs) on 2026-07-10. The filing reports these as a derivative award (code A) at $0.00 per unit, total reported value $0. This was not a purchase or sale but an award/automatic reinvestment of dividend equivalents tied to existing RSUs.

Key Details

• Transaction date and type: 2026-07-10 — Grant/Award (A), 0.98 RSUs @ $0.00.
• Reported value: $0 (derivative RSU units).
• Shares owned after transaction: Not specified in the provided filing data.
• Footnotes from the filing:
  • F1: Each RSU 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 RSUs to which they relate.
  • F3: Expiration Date is the same as the Date Exercisable.
• Filing date: 2026-07-14 for a 2026-07-10 transaction (filed 4 calendar days, 3 business days, after the transaction). Note: Form 4s are generally required within two business days of the transaction.

Context

• This was a derivative award (RSU-related), not an open-market purchase or sale. RSUs are contingent rights to shares and typically convert to actual shares only when they vest — these particular units were created by reinvested dividend equivalents and will follow the vesting schedule of the underlying RSUs.
• The small size and $0 reported value indicate this is routine compensation/administrative activity rather than a meaningful buy/sell signal.