4/A: Allstate Corp Executive Corrects Stock Option and RSU Grant Numbers in Amended SEC Filing

John E. Dugenske, Pres, Invest. & Corp. Strategy at Allstate Corp, files an amended SEC Form 4 to correct the number of stock options and restricted stock units (RSUs) granted on February 21, 2024.

Summary

• John E. Dugenske, an executive at Allstate Corp, filed an amended Form 4 with the SEC on March 8, 2024, to correct the number of stock options and Restricted Stock Units (RSUs) granted on February 21, 2024.
• The original filing on February 23, 2024, contained a calculation error.
• The amended filing correctly reports the grant of 18,810 employee stock options and 4,673 restricted stock units.
• The stock options have an exercise price of $159.17 and vest in three equal increments starting February 21, 2025.
• The RSUs will convert into shares of Allstate common stock in three equal increments starting February 21, 2025.

Sentiment

Score: 7

Explanation: The document is a routine correction of an SEC filing, indicating standard corporate governance practices. The sentiment is neutral to slightly positive as it reflects transparency and adherence to regulatory requirements.

Positives

• The correction ensures accurate reporting of executive compensation.

Industry Context

This filing is a routine disclosure related to executive compensation and is standard practice for publicly traded companies.

Comparison to Industry Standards

• Executive compensation packages, including stock options and RSUs, are common across the insurance industry.
• Companies like Progressive, Geico (Berkshire Hathaway), and State Farm also utilize similar equity-based compensation to align executive interests with shareholder value.
• The vesting schedules and terms of these grants are generally comparable to industry norms.

Stakeholder Impact

• Shareholders benefit from accurate reporting of executive compensation.
• Employees, specifically the executive, are impacted by the corrected grant information.

Key Dates