Mayfield Village, Ohio-based Progressive Corp. announced that it purchased 200,000 of its common shares, $1 par value, from Peter B. Lewis, the company’s chairman of the board, through an entity owned and controlled by Lewis.
The purchase price for the shares was $71 per share, representing the market price of the shares at the time of the transaction. This transaction is part of Progressive’s previously announced share repurchase program. Proceeds of the sale are for Lewis’s personal use.
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