Niederst Lori A 4

What Happened

• Lori A. Niederst, Progressive's Chief Personal Lines Officer, received 13,151.651 shares on vesting of performance-based restricted stock units (code A) on July 24, 2026. The award was recorded at $0.00 (standard for RSU vesting).
• To cover tax withholding (code F), 5,812 shares were surrendered/withheld at $211.90 per share, generating a withholding amount of $1,231,563. Net shares delivered to Niederst were 7,339.651, with an implied net value of roughly $1.56M (13,151.651 × $211.90 less withheld value).

Key Details

• Transaction date: 2026-07-24; Form 4 filed: 2026-07-28 (filed four days after the transaction; appears later than the typical 2-business-day Form 4 deadline).
• Award (A): 13,151.651 RSU shares vested; Tax withholding (F): 5,812 shares withheld at $211.90/share (withheld value $1,231,563).
• Net shares retained: 7,339.651 (gross vested minus withheld).
• Footnote: F1 — Shares issued upon vesting of 2023 performance-based RSUs, including accrued dividend equivalents.
• Shares owned after the transaction: not specified in the provided filing details.

Context

• This was a compensation event (vesting of performance RSUs), not an open-market sale or purchase. The withheld shares were used solely to satisfy tax obligations, a common and routine practice that does not necessarily indicate buying or selling sentiment.
• No immediate open-market sale of the remaining shares was reported on the Form 4.