Burgdoerfer Stuart B 4
4 · PROGRESSIVE CORP/OH/ · Filed Aug 13, 2021
Insider Transaction Report
Form 4
Burgdoerfer Stuart B
Director
Transactions
- Award
Common
2021-08-11$96.92/sh+70$6,784→ 24,501 total
Footnotes (1)
- [F1]This restricted stock grant was made pursuant to The Progressive Corporation 2017 Directors Equity Incentive Plan, and will vest on April 7, 2022. It reflects pro-rated additional compensation for the 2021-2022 term associated with the reporting person's appointment to an additional committee. The Progressive Corporation allowed each director to indicate their preference to receive compensation for the 2021-2022 term in the form of 100% restricted stock or 60% restricted stock and 40% cash. The reporting person indicated a preference to receive 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 additional pro-rated compensation for the 2021-2022 term, and authorized a cash payment on April 7, 2022 for the remaining 40% of the reporting person's compensation.