Progressive (PGR) CFO Andrew Quigg Receives Award and Sells Shares

What Happened

• Andrew J. Quigg, Chief Financial Officer of Progressive (PGR), had performance-based restricted stock units vest on 2026-07-24, resulting in the issuance of 12,524.606 shares (award code A; reported acquisition at $0).
• To satisfy tax withholding on the vesting, 5,526 of those shares were disposed (code F) at $211.90 per share, producing proceeds of $1,170,959. The gross value of the vested shares was roughly $2.65M (12,524.606 × $211.90).

Key Details

• Transaction date: 2026-07-24; Form 4 filed 2026-07-28.
• Award: 12,524.606 shares issued at $0 (vesting of performance-based RSUs).
• Withholding/disposition: 5,526 shares disposed at $211.90 — $1,170,959.
• Footnote: These shares were issued upon vesting of 2023 performance-based RSU awards and include dividend equivalents accrued since grant (per footnote F1).
• Shares owned after the transaction are not specified in the provided filing excerpt.
• Transaction types: A = award/vesting; F = payment of exercise price or tax liability (share-withholding to cover taxes). This was a tax-withholding disposal, not an open-market sale.

Context

• This is a routine compensation event (vesting + tax withholding). The disposal reflects shares withheld to cover taxes rather than an active sale of additional shares, so it should not be read as a directional market signal by itself.