PROGRESSIVE CORP/OH/ 4
4 · PROGRESSIVE CORP/OH/ · Filed May 16, 2017
Insider Transaction Report
Form 4
KELLY JEFFREY D
Director
Transactions
- Award
Common
2017-05-12+4,053→ 79,963 total
Footnotes (1)
- [F1]Restricted stock grant, made pursuant to The Progressive Corporation 2017 Directors Equity Incentive Plan, and which will vest on April 12, 2018. The Progressive Corporation allowed each director to indicate their preference to receive their compensation for the 2017-2018 term in the form of 100% restricted stock or 60% restricted stock and 40% cash. The reporting person indicated a preference to receive their compensation in the form of 60% restricted stock and 40% cash. After considering such preference, the Compensation Committee granted a restricted stock award representing 60% of the reporting person's compensation for the 2017-2018 term, and authorized a cash payment on April 12, 2018 for the remaining 40% of the reporting person's compensation.