Summary
The Progressive Corporation (PGR) filed an 8-K on October 15, 2004, to report a significant change in its Board of Directors. The company announced the election of Patrick H. Nettles, Ph.D., to fill an existing vacancy on the Board. Dr. Nettles' term is set to conclude at the 2007 Annual Meeting of Shareholders, indicating a planned long-term role on the board. His appointment does not appear to be contingent on any special arrangements outside of standard director compensation and company policies.
Key Highlights
- 1Progressive Corporation elected Patrick H. Nettles, Ph.D., to its Board of Directors.
- 2Dr. Nettles' appointment fills a current vacancy on the Board.
- 3His term as a director will extend until the 2007 Annual Meeting of Shareholders.
- 4There are no special arrangements or understandings with Dr. Nettles beyond standard director compensation and company policies.
- 5Dr. Nettles was not appointed to any board committees at the time of his election.
- 6No transactions involving Dr. Nettles and the company in which he had a material interest have occurred since the beginning of the last fiscal year.
- 7The filing includes a press release announcing Dr. Nettles' appointment as Exhibit 99.