At the Annual Meeting of Shareholders of The Progressive Corporation
today, Progressive's shareholders:
elected the following directors:
Roger N. Farah, for a three-year term
Stephen R. Hardis, for a three-year term
Heidi G. Miller, Ph.D., for a two-year term, and
Bradley T. Sheares, Ph.D., for a three-year term.
approved an amendment to our Code of Regulations eliminating the
supermajority voting requirement for shareholders to amend specified
sections of the Code of Regulations;
approved an amendment to our Code of Regulations to declassify the
Board of Directors and provide for the annual election of directors;
approved an amendment to our Code of Regulations to fix the number of
directors at 11;
approved an amendment to our Code of Regulations to revise the
procedures for fixing the number of director positions within the
limits set forth in the Code of Regulations;
approved an amendment to our Code of Regulations allowing our Board of
Directors to amend the Code of Regulations as and to the extent
permitted by Ohio law;
approved an amendment to our Code of Regulations to provide that the
Annual Meeting of Shareholders will be held at such time and on a
date, no later than June 30, as may be fixed by the Board of Directors;
approved our executive compensation program in an advisory vote;
re-approved performance criteria set forth in our 2007 Executive Bonus
approved an amendment to our 2010 Equity Incentive Plan to add
investment performance as a new performance goal under the plan;
approved an amendment to our 2003 Directors Equity Incentive Plan to
extend the term of the plan, to eliminate the buyout provisions
relating to stock option awards, and to modify the definition of
"change in control"; and
ratified the appointment of PricewaterhouseCoopers LLP as our
independent registered public accounting firm for 2012.
The Progressive Group of Insurance Companies makes it easy to
understand, buy, and use auto insurance. Progressive offers choices so
consumers can reach us whenever, wherever, and however it's most
convenient for them--online at http://www.progressive.com,
by phone at 1-800-PROGRESSIVE, or in-person with a local agent.
Progressive offers insurance for personal and commercial autos and
trucks, motorcycles, boats, recreational vehicles, and homes. We're the
fourth largest auto insurer in the country, the largest seller of
motorcycle insurance, and a leader in commercial auto insurance.
Progressive also offers car insurance online in Australia at http://www.progressiveonline.com.au.
Founded in 1937, Progressive continues its long history of offering
shopping tools and services that save customers time and money, like
Name Your Price®, the Snapshot Discount®, and a
concierge level of claims service.
The Common Shares of The Progressive Corporation, the Mayfield Village,
Ohio-based holding company, trade publicly at (NYSE:PGR).
The Progressive Corporation
Matt Downing, 440-395-4222