Callahan Patrick K 4

What Happened

• Patrick K. Callahan, Personal Lines President at Progressive (PGR), received a grant of 3,535 restricted stock units (RSUs) on 2026-03-24. The filing reports an acquisition price of $0.00 and classifies the transaction as a derivative award (code A).
• These RSUs do not represent immediate shares: each unit is a contingent right to one common share and will convert to actual shares only if and when the units vest.

Key Details

• Transaction date: 2026-03-24; Quantity: 3,535 RSUs; Reported price: $0.00 (derivative award).
• Shares owned after transaction: Not specified in the Form 4 filing.
• Vesting (from filing footnotes): units vest in three equal annual installments on 2029-01-16, 2030-01-15, and 2031-01-21, subject to the plan and award agreement.
• Other footnote: each RSU equals one common share upon vesting; the filing notes the expiration date equals the date exercisable.
• Filing timeliness: Form 4 was filed on 2026-03-25 for a 2026-03-24 transaction (filed promptly).

Context

• RSU grants are common compensation/retention awards and are not purchases or sales; they don’t immediately change share ownership until vesting occurs. This grant alone does not signal a buy or sell intent by the insider.