FITT LAWTON W 4

What Happened

• Lawton W. Fitt, a director of Progressive Corporation (PGR), was granted 63.53 shares (derivative units) on July 10, 2026. The units were recorded at $0.00 per share (award/award-acquisition, code A) — this reflects a grant/reinvestment of dividend equivalents rather than a cash purchase.

Key Details

• Transaction date: 2026-07-10; Form 4 filed: 2026-07-14 (filed within required two business days).
• Amount: 63.53 shares acquired at $0.00 each (total reported value $0; derivative units).
• Shares owned after transaction: not specified in this filing.
• Footnotes of note:
  • F1: 1 for 1 (conversion ratio).
  • F2: Units were acquired upon reinvestment of dividend equivalents and will be paid in cash when elected or as determined by the plan.
  • F3: Expiration Date is the same as the Date Exercisable.
• Transaction code: A (award/grant/other acquisition); not a market purchase or sale.

Context

• This was an award of derivative units tied to dividend reinvestment, not an open-market purchase or sale — such awards are typically routine compensation/plan activity and do not necessarily signal a change in the insider’s market view.
• Because these units may be paid out in cash per the plan (footnote F2), they function differently than outright stock grants or exercised options.