The Progressive Corporation (PGR) Proxy filing summary

Executive summary

• Annual Meeting scheduled for May 8, 2026, via virtual webcast; shareholders to vote on director elections, executive compensation, and auditor ratification.

• 2025 saw strong financial performance: 12% net premiums written growth, 10% policies in force growth, 12.6% underwriting profit margin, and $11.3B net income.

• Five-year results include 26% annualized net income return, 15% annualized net premiums written growth, and outperformance of S&P 500 and peers in total shareholder return.

• Company emphasizes innovation, strong culture, and adherence to core values as drivers of sustainable growth.

Voting matters and shareholder proposals

• Shareholders to elect 11 directors for one-year terms.

• Advisory vote on executive compensation program (say-on-pay).

• Ratification of PricewaterhouseCoopers LLP as independent auditor for 2026.

Board of directors and corporate governance

• Board comprises 11 nominees, 91% independent, 45% women, average age 66.6, average tenure 14 years.

• Board diversity and mix of skills in finance, governance, insurance, technology, and risk management.

• Annual election of all directors, majority voting standard, proxy access, and mandatory retirement at age 80.

• Board committees: Audit, Compensation and Talent, Investment and Capital, Nominating and Governance, Technology, and Executive.

• Regular board and committee evaluations, with periodic use of third-party facilitators.