| Type | Sym | Class | Transaction | Value $ | Shares | Change % | * Price $ | Shares After | Date | Ownership | Footnotes |
|---|---|---|---|---|---|---|---|---|---|---|---|
| transaction | PTVCA/B | Class A Common Stock | Disposed to Issuer | -$5.08M | -218K | -100% | $23.30 | 0 | Jun 1, 2021 | Various | F1, F2 |
| transaction | PTVCA/B | Class A Common Stock | Disposed to Issuer | -$9.88M | -424K | -100% | $23.30 | 0 | Jun 1, 2021 | Various | F1, F3 |
| transaction | PTVCA/B | Class B Common Stock | Disposed to Issuer | -$98.4K | -4.22K | -100% | $23.30 | 0 | Jun 1, 2021 | Direct | F1 |
| transaction | PTVCA/B | Class B Common Stock | Disposed to Issuer | -$10.9M | -469K | -100% | $23.30 | 0 | Jun 1, 2021 | Various | F1, F2 |
| transaction | PTVCA/B | Class B Common Stock | Disposed to Issuer | -$18.7M | -804K | -100% | $23.30 | 0 | Jun 1, 2021 | Various | F1, F3 |
Nathan Shapiro is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.
| Id | Content |
|---|---|
| F1 | Pursuant to the Agreement and Plan of Merger, dated as of February 14, 2021 (the "Merger Agreement"), by and among Protective Insurance Corporation (the "Company"), The Progressive Corporation ("Progressive") and Carnation Merger Sub Inc., a wholly-owned indirect subsidiary of Progressive ("Merger Sub"), at the effective time (the "Effective Time") of the merger of Merger Sub with and into the Company, which Effective Time occurred on June 1, 2021, each outstanding share of the Company's Class A Common Stock and Class B Common Stock (other than certain excluded shares and the outstanding time-based restricted stock awards granted under the Company's equity incentive plan) was cancelled and automatically converted into the right to receive an amount in cash equal to $23.30, without interest and less any applicable withholding taxes. |
| F2 | Owned by NS (Florida) Associates Inc. (173,062 shares of Class A and 453,750 shares of Class B), and New Horizon (Florida) Enterprises Inc. (44,859 shares of Class A and 15,000 shares of Class B). |
| F3 | Owned by the Shapiro Family Investment Partnership - Nathan Share (128,410 shares of Class A and 462,640 shares of Class B), the Nathan Shapiro Revocable Trust dated 10/7/1987 (274,166 shares of Class A and 255,857 shares of Class B), and Illinois Diversified Company, LLC (21,375 shares of Class A and 85,500 shares of Class B). Beneficial ownership is shared by the undersigned and other family members for all shares owned by these entities. |