Progressive (PGR) Director Philip Bleser Receives 10.887 Awarded Units

What Happened Philip Bleser, a director of The Progressive Corporation (PGR), was granted 10.887 derivative units (reported as an award/acquisition) on July 10, 2026. The units were recorded at $0.00 (no cash paid by the reporting person) and are derivative in nature — they will be paid out in cash under the plan rather than delivered as marketable shares at grant.

Key Details

• Transaction date: 2026-07-10. Form 4 filed: 2026-07-14.
• Transaction type/code: A (grant/award); 10.887 derivative units acquired @ $0.00.
• Immediate reported value at grant: $0; payout will be cash-settled per plan (see footnote F2).
• Footnotes: F1 indicates a 1-for-1 conversion ratio; F2 explains units were acquired upon reinvestment of dividend equivalents and will be paid in cash when elected or as determined by the plan; F3 notes expiration date = date exercisable.
• Shares/units owned after the transaction: not disclosed in this filing.
• Filing timing: Form 4 submitted four days after the transaction date (filed 2026-07-14 for the 2026-07-10 event).

Context This was an award of derivative units (not a market purchase or sale). Such director awards — including dividend-equivalent reinvestments that convert to deferred/cash‑settled units — are common as compensation or dividend reinvestment mechanisms and do not by themselves indicate a buy/sell signal from the insider.