Broz Steven 4

What Happened
Steven Broz, Chief Information Officer of Progressive (PGR), was awarded 2,926 restricted stock units (RSUs) on March 24, 2026. The Form 4 reports the grant as a derivative acquisition at $0.00 per unit (code A), meaning these are contingent rights to receive common shares in the future rather than an immediate cash purchase. The filing shows an acquisition of 2,926 units; the reported dollar amount is $0 because the award is a grant of RSUs.

Key Details

• Transaction date: 2026-03-24; Form 4 filed: 2026-03-25 (filed the next day, i.e., timely).
• Security: 2,926 Restricted Stock Units (derivative award). Reported price: $0.00 per unit.
• Shares owned after transaction: Not specified in the provided filing.
• Footnotes:
  • F1: Each RSU represents a contingent right to receive one common share.
  • F2: Vesting: three equal annual installments on Jan 16, 2029; Jan 15, 2030; and Jan 21, 2031 (subject to the plan and award agreement).
  • F3: Expiration date is the same as date exercisable (as noted in the filing).
• Transaction code: A = Award/Grant.

Context
RSUs are a form of compensation that convert into actual shares only after vesting; they do not represent immediate share ownership or a cash outlay by the insider. Grants like this are routine for executive compensation and are intended to align long-term incentives; they should not be read as a near-term buy/sell signal. Taxes are typically due when the RSUs vest and are settled in shares (or as specified in the award agreement).