Progressive (PGR) CIO Jonathan S. Bauer Receives RSUs; 1,933 Shares Withheld

What Happened

• Jonathan S. Bauer, Chief Investment Officer of Progressive (PGR), had performance-based restricted stock units vest on 2026-07-24, resulting in the issuance of 4,175.647 shares (transaction coded A — award/acquisition). Dividend equivalents since the grant date were included.
• To satisfy tax withholding obligations (transaction coded F), 1,933 shares were surrendered/retained at $211.90 per share, producing proceeds of $409,603. Net shares received after withholding: 2,242.647. Using $211.90 as the valuation, the vested award is roughly $884,820 (approximate).

Key Details

• Transaction dates/prices: Awarded 4,175.647 shares on 2026-07-24 (acquired at $0.00 as compensation); 1,933 shares withheld at $211.90/share (disposed) for taxes = $409,603.
• Shares owned after transaction: not reported in the excerpt provided (net shares received from this vesting = 2,242.647).
• Footnote: These shares vested from 2023 performance-based RSU awards and include dividend equivalents.
• Filing date: Form 4 filed 2026-07-28 (four days after the transaction). Form 4s are typically due within two business days of the transaction, so this timing may be later than the usual deadline.

Context

• This was a vesting/compensation event rather than an open-market buy or discretionary sale; the F-code disposition reflects routine tax withholding, not an investment decision.
• Awards like these signal compensation vesting but do not necessarily indicate insider sentiment about the stock price.