11 unchanged sentences
Plans or Programs
−Removed: January 208,942 $ 163.91 935,880 24,064,120
−Removed: February 3,347 177.70 939,227 24,060,773
−Removed: March 11,354 197.03 950,581 24,049,419
+Added: April 10,269 $ 209.92 960,850 24,039,150
+Added: May – prior authorization
+Added: 7,122 212.64 967,972 —
+Added: May – current authorization
+Added: 15,119 208.46 15,119 24,984,881
+Added: June 19,514 209.32 34,633 24,965,367
Total 52,024 $ 209.64
+Added: Progressive’s financial policies state that we will repurchase shares to neutralize dilution from equity-based compensation in the year of issuance and as an option to effectively use under-leveraged capital.
In May 2024, the Board of Directors approved an authorization for the company to repurchase up to 25 million of its common shares.
−Removed: This authorization does not have an expiration date.
+Added: This authorization, which does not have an expiration date, terminated the 24,032,028 shares that remained under the Board’s May 2023 authorization to repurchase 25 million shares.
Share repurchases under this authorization may be accomplished through open market purchases, including trading plans entered into with one or more brokerage firms in accordance with Rule 10b5-1 under the Securities Exchange Act of 1934, through privately negotiated transactions, pursuant to our equity incentive awards, or otherwise.
−Removed: During the first quarter 2024, all repurchases were accomplished in conjunction with our equity incentive awards at the then-current market prices;
−Removed: there were no open market purchases during the quarter.
−Removed: Progressive’s financial policies state that we will repurchase shares to neutralize dilution from equity-based compensation in the year of issuance and as an option to effectively use under-leveraged capital.
+Added: During the second quarter 2024, all repurchases were accomplished in conjunction with our equity incentive awards or through the open market at the then-current market prices.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.