ROBERT SHAPIRO - 01 Jun 2021 Form 4 Insider Report for Protective Insurance Corp

Role
Director
Signature
John R. Barnett on behalf of Robert Shapiro
Issuer symbol
N/A
Transactions as of
01 Jun 2021
Net transactions value
-$23,777,347
Form type
4
Filing time
03 Jun 2021, 17:24:06 UTC
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction PTVCA/B Class A Common Stock Disposed to Issuer $2,715,825 -116,559 -100% $23.30* 0 01 Jun 2021 Direct F1
transaction PTVCA/B Class A Common Stock Disposed to Issuer $2,793,740 -119,903 -100% $23.30* 0 01 Jun 2021 Various F1, F2
transaction PTVCA/B Class A Common Stock Disposed to Issuer $2,915,902 -125,146 -100% $23.30* 0 01 Jun 2021 Various F1, F3
transaction PTVCA/B Class B Common Stock Disposed to Issuer $2,114,964 -90,771 -100% $23.30* 0 01 Jun 2021 Direct F1
transaction PTVCA/B Class B Common Stock Disposed to Issuer $2,761,609 -118,524 -100% $23.30* 0 01 Jun 2021 Various F1, F2
transaction PTVCA/B Class B Common Stock Disposed to Issuer $10,475,307 -449,584 -100% $23.30* 0 01 Jun 2021 Various F1, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

ROBERT SHAPIRO is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.

Explanation of Responses:

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 the Robert & Gwendolyn Shapiro Family LLC (116,019 shares of Class A and 118,524 shares of Class B) and Emlin Cosmetics, Inc. (3,884 shares of Class A).
F3 Owned by the Shapiro Family Investment Partnership - Robert Shapiro (125,146 shares of Class A and 449,584 shares of Class B). Beneficial ownership is shared by the undersigned and other family members for all shares owned by this entity.