SEC Form 4 · accession 0001127602-16-035645
PROGRESSIVE CORP/OH/ · PGR
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Patrick K Callahan
Officer — Personal Lines President
Period of report
Jan 1, 2016
Accepted (ET)
Jan 5, 2016 · 1:20 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000080661
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common | Jan 1, 2016 | M | 4,211 | $0.00 | A | 8,558 | D | |
| Common | Jan 1, 2016 | F | 1,525 | $31.10 | D | 7,033 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted Stock UnitF3,F4,F5 | — | Jan 1, 2016 | M | 4,211 | D | — | — | Common | 4,211 | 21,992 | D |
| Restricted Stock UnitF3,F4,F5 | — | Jan 1, 2016 | D | 1,632 | D | — | — | Common | 1,632 | 20,360 | D |
| Deferred Comp UnitF7,F8,F5 | — | Jan 1, 2016 | A | 1,632 | A | — | — | Common | 1,632 | 17,590 | D |
Explanation of responses
- F1Represents Common Shares issued upon the vesting of restricted stock unit awards, including dividend equivalent units on deferred awards. This Form 4 reports the disposition of such restricted stock units in exchange for an equal number of Common Shares.
- F2Delivery of shares to pay taxes upon vesting of restricted stock units.
- F3Each Restricted Stock Unit represents a contingent right to receive one Common Share of the Company's stock.
- F4Units vested on January 1, 2016.
- F5Expiration Date is the same as the Date Exercisable.
- F6The reporting person elected to defer receipt of Common Shares upon the vesting of previously granted restricted stock unit awards. This Form 4 reports disposition of such restricted stock units in exchange for an equal number of units under the applicable deferred compensation plan.
- F71 for 1
- F8Units will not be exercisable prior to distribution and will be distributed in an equivalent number of Common Shares at the time elected by the reporting person, subject to the payment provisions of the plan.