Niederst Lori A 4

What Happened
Lori A. Niederst, CRM President of Progressive (PGR), was granted 3,072 restricted stock units (RSUs) on 2026-03-24. The RSUs are a derivative award with an acquisition price of $0.00 (no cash exchanged) and therefore have no immediate cash proceeds. The award represents a contingent right to receive common shares in the future rather than immediate stock ownership.

Key Details

• Transaction type: Award/Grant (code A) of derivative securities (RSUs).
• Grant date / Period of Report: 2026-03-24 (reported on Form 4 filed 2026-03-25). Filing appears timely (filed one day after the transaction).
• Quantity and price: 3,072 RSUs @ $0.00 (acquired), reported value $0 at grant.
• Shares owned after transaction: Not reported in the provided data.
• Footnotes:
  • F1: Each RSU represents a contingent right to receive one common share upon vesting.
  • F2: Vesting schedule: three equal annual installments on Jan 16, 2029; Jan 15, 2030; and Jan 21, 2031 (subject to plan/award agreement and possible earlier vesting or forfeiture).
  • F3: “Expiration Date is the same as Date Exercisable” (administrative note about award terms).

Context
RSU grants are a common form of executive compensation and do not immediately increase the insider’s share count until the units vest and shares are delivered. Because these are conditional awards (derivatives), they are not the same as an open-market purchase or sale and should be viewed as compensation rather than a direct buy/sell signal. Tax withholding, forfeiture rules, or accelerated vesting provisions in the plan may affect final share delivery.