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

Suren Gupta, President of Enterprise Solutions at Allstate Corp, files an amendment to a previous Form 4 to correct the number of stock options and restricted stock units (RSUs) granted on February 21, 2024.

Summary

• Suren Gupta, President, Enterprise Solutions at Allstate Corp, filed an amended Form 4 with the SEC on March 8, 2024.
• The amendment corrects a calculation error in the original Form 4 filed on February 23, 2024.
• The error misreported the number of stock options and Restricted Stock Units (RSUs) granted to Gupta on February 21, 2024.
• The amended form correctly reports the grant of 11,381 stock options and 2,827 RSUs.
• 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 a previous filing, indicating a commitment to accuracy and transparency. The sentiment is neutral to slightly positive as it reflects good corporate governance.

Positives

• The correction of the filing ensures transparency and accurate reporting of executive compensation.

Future Outlook

The document does not contain any specific forward-looking statements regarding the company's future performance.

Industry Context

This filing is a routine disclosure related to executive compensation, which is a common practice in publicly traded companies. It provides transparency to investors regarding the equity-based compensation awarded to key executives.

Comparison to Industry Standards

• Executive compensation packages, including stock options and RSUs, are standard practice among publicly traded companies like Allstate.
• Companies such as State Farm, Progressive, and Geico also utilize similar compensation strategies to incentivize and retain key personnel.
• The vesting schedules and exercise prices are generally aligned with industry norms to ensure long-term commitment and performance.

Stakeholder Impact

• The correction of the filing ensures that shareholders have accurate information regarding executive compensation.
• This promotes trust and confidence in the company's governance practices.

Key Dates