SEC Form 4 · accession 0001127602-17-018260
PROGRESSIVE CORP/OH/ · PGR
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Jeffrey D Kelly
Director
Period of report
May 12, 2017
Accepted (ET)
May 16, 2017 · 1:55 pm EDT
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 | May 12, 2017 | A | 4,053 | $0.00 | A | 79,963 | D |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1Restricted stock grant, made pursuant to The Progressive Corporation 2017 Directors Equity Incentive Plan, and which will vest on April 12, 2018. The Progressive Corporation allowed each director to indicate their preference to receive their compensation for the 2017-2018 term in the form of 100% restricted stock or 60% restricted stock and 40% cash. The reporting person indicated a preference to receive their 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 compensation for the 2017-2018 term, and authorized a cash payment on April 12, 2018 for the remaining 40% of the reporting person's compensation.