Independent
Tenure on this board
8.9 yrs
Meeting calendar
PGR · Annual meeting · Friday, May 8, 2026
Progressive Corp
11 nominees · 3 ballot items.
Elect 11 directors; advisory vote to approve executive compensation (say-on-pay); ratify PricewaterhouseCoopers LLP as independent registered public accounting firm for 2026.
Market cap
$121.5B
1Y TSR
-5.8%
Board grade
B
Record date
Mar 13, 2026
Filing
DEF 14A
Meeting concluded · May 8, 2026
Follow how the vote landed and what changed on Progressive Corp’s board — director track records, governance grades, and ongoing monitoring — on the Boardroom Alpha platform.
Proposals
On the ballot3
- 1
Election of Directors
ManagementBoard: FORElect 11 nominated directors to serve one-year terms.
- 2
Advisory Vote to Approve Our Executive Compensation Program
ManagementBoard: FORNon-binding, advisory vote (“say-on-pay”) to approve the company’s executive compensation program as disclosed in the proxy statement.
More detail
This management proposal asks shareholders to cast a non-binding advisory vote approving the executive compensation program disclosed in the proxy statement, including the Compensation Discussion and Analysis and compensation tables. Management seeks this annual advisory approval to confirm shareholder support for its pay practices. The board recommends a vote FOR, arguing the program aligns executives’ interests with shareholders through heavy weighting of at-risk, performance-based compensation (performance-based RSUs and Gainshare cash incentives), equity ownership guidelines, and clawback provisions. The payment design emphasizes profitable growth (96 combined ratio target), with long-term performance-based restricted stock units tied to market-relative growth and investment results, and an annual Gainshare factor driving cash incentives. The board notes robust disclosure, engagement with shareholders, and high prior say-on-pay support (94% in 2025). Risks are mitigated by governance features (clawbacks, non-compete, double-trigger change-in-control). A sophisticated analyst should consider that while pay is heavily performance-linked, substantial realized pay resulted from significant stock price appreciation and vesting outcomes, so approval affirms current compensation philosophy but does not bind the board to specific future targets.
- 3
Ratify the Appointment of PricewaterhouseCoopers LLP as Our Independent Registered Public Accounting Firm for 2026
ManagementBoard: FORRatify PwC as the company’s independent auditor for 2026.
Director elections
Nominees on the ballot11
Independent
Tenure on this board
17.5 yrs
Also a director at
Arhaus Inc (ARHS)
Independent
Tenure on this board
8.2 yrs
Also a director at
Merck & Co Inc (MRK)Corning Inc (GLW)
Independent
Tenure on this board
30.5 yrs
Also a director at
Axis Capital Holdings Ltd (AXS)Beta Technologies Inc (BETA)
Independent
Tenure on this board
18.1 yrs
Also a director at
Wheels Up Experience Inc (UP)
Independent
Tenure on this board
17.1 yrs
Also a director at
Ciena Corp (CIEN)Carlyle Group Inc (CG)
Not independent
Tenure on this board
10.2 yrs
Also a director at
FedEx Corp (FDX)
Independent
Tenure on this board
5.7 yrs
Independent
Tenure on this board
13.8 yrs
Independent
Tenure on this board
12.5 yrs
Also a director at
Keycorp (KEY)
Independent
Tenure on this board
8.2 yrs
Ownership
Latest 13F quarterTop institutional holders10
| # | Owner | % of shares | Shares | Value |
|---|---|---|---|---|
| 1 | VANGUARD CAPITAL MANAGEMENT LLC | 6.5% | 38,098,359 | $7.6B |
| 2 | STATE STREET CORP | 4.4% | 25,870,710 | $5.1B |
| 3 | Capital Research Global Investors | 3.9% | 22,574,142 | $4.5B |
| 4 | BlackRock, Inc. | 3.5% | 20,299,160 | $4.0B |
| 5 | GEODE CAPITAL MANAGEMENT, LLC | 2.5% | 14,359,360 | $2.8B |
| 6 | Capital World Investors | 2.4% | 14,173,539 | $2.8B |
| 7 | BlackRock, Inc. | 2.1% | 12,414,885 | $2.5B |
| 8 | VANGUARD PORTFOLIO MANAGEMENT LLC | 2.0% | 11,696,220 | $2.3B |
| 9 | ALLIANCEBERNSTEIN L.P. | 1.7% | 10,165,653 | $2.3B |
| 10 | MASSACHUSETTS FINANCIAL SERVICES CO /MA/ | 1.6% | 9,494,362 | $1.9B |
Peers
Nearest market capOther Financial Services sector meetings6
Upcoming shareholder meetings at Progressive Corp’s closest sector peers — compare boards, ballots, and ownership across the cohort.
Corebridge Financial IncCRBG
Special meeting·Jul 30, 2026·$14.5B
Equitable Holdings IncEQH
Special meeting·Jul 30, 2026·$13.8B
Ares Capital CorpARCC
Special meeting·Aug 13, 2026·$13.8B
Blackstone Secured Lending FundBXSL
Annual meeting·Sep 24, 2026·$5.6B
Corvel CorpCRVL
Annual meeting·Aug 6, 2026·$3.2B
Hilltop Holdings IncHTH
Annual meeting·Jul 23, 2026·$2.3B
Reference
Frequently asked questions
- When is the Progressive Corp 2026 annual meeting?
- Progressive Corp (PGR) holds its 2026 annual shareholder meeting on Friday, May 8, 2026.
- What is the record date for the Progressive Corp 2026 meeting?
- The record date for the Progressive Corp 2026 meeting is Friday, March 13, 2026. Shareholders of record on or before that date are eligible to vote.
- Who are the director nominees for Progressive Corp's 2026 meeting?
- The board is presenting 11 director nominees at the Progressive Corp 2026 meeting, listed with their independence status and background.
- What proposals will shareholders vote on at the Progressive Corp 2026 meeting?
- Shareholders will vote on 3 proposals at the Progressive Corp 2026 meeting, each tagged with who proposed it and the board's recommendation.
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