FARAH ROGER N 4

What Happened

• Roger N. Farah, a director of Progressive Corp (PGR), was granted 67.739 derivative share units on July 10, 2026. The Form 4 reports an acquisition (code A) at $0.00 per unit (total reported value $0.00).
• These units were acquired upon reinvestment of dividend equivalents and are derivative in nature rather than an open-market purchase.

Key Details

• Transaction date: 2026-07-10; Form 4 filed: 2026-07-14 (filed within the standard two business days).
• Transaction type/code: Grant/Award (A). Quantity: 67.739 units. Price per unit: $0.00; reported total value $0.00.
• Shares owned after transaction: Not specified in the provided filing.
• Footnotes: F1 = 1-for-1 conversion; F2 = units were acquired upon reinvestment of dividend equivalents and will be paid in cash when elected; F3 = expiration date equals date exercisable.
• Filing appears timely (filed 7/14 for a 7/10 transaction).

Context

• These are derivative/dividend-equivalent units, not a cash purchase or sale. Such awards to directors are typically routine compensation or dividend reinvestment activity and do not necessarily signal a change in insider sentiment.
• Because the units were granted at $0.00 and are payable in cash per the plan, there's no immediate cash outlay or open-market activity associated with this entry.