Form 4: Allstate Director Gregg Sherrill Converts RSUs to Common Stock and Receives New Equity Grant

Allstate Corporation Director Gregg M. Sherrill reported the conversion of 1,300 restricted stock units into common shares and the grant of 894 new restricted stock units, as disclosed in a recent SEC Form 4 filing.

Summary

• Gregg M. Sherrill, a Director of The Allstate Corporation, reported two transactions in the company's securities.
• On June 1, 2025, Mr. Sherrill converted 1,300 previously awarded restricted stock units (RSUs) into an equal number of common shares of Allstate stock. This conversion occurred without any payment of consideration, as per The Allstate Corporation 2017 Equity Compensation Plan for Non-Employee Directors.
• Following this conversion, Mr. Sherrill beneficially owns 8,389 shares of Allstate common stock.
• On June 2, 2025, Mr. Sherrill was granted 894 new restricted stock units under the same 2017 Equity Compensation Plan.
• Each new RSU represents the right to receive one share of Allstate common stock, with conversion contingent on the earlier of the third anniversary of the grant date, termination of Board service, or death/disability.
• After the new grant, Mr. Sherrill beneficially owns 894 restricted stock units.

Sentiment

Score: 5

Explanation: The document is a routine compliance filing detailing insider equity transactions. It does not contain information that would significantly alter the perception of the company's financial health or operational performance, thus indicating a neutral sentiment.

Positives

• The conversion of 1,300 restricted stock units into common shares indicates the vesting of previously awarded equity compensation, increasing the director's direct ownership in the company.
• The grant of 894 new restricted stock units aligns the director's interests with long-term shareholder value through future equity vesting.

Future Outlook

The newly granted Restricted Stock Units (RSUs) are scheduled to convert into common stock upon the earlier of (i) the third anniversary of the grant date (June 2, 2028), (ii) the day following the reporting person's Board service termination, or (iii) the day following the reporting person's death or disability.

Industry Context

This Form 4 filing is a routine disclosure of insider equity transactions, common across all publicly traded companies. It reflects standard compensation practices for non-employee directors, often involving equity awards to align their interests with long-term shareholder value. The specific details relate to The Allstate Corporation's compensation plan for its non-employee directors.

Comparison to Industry Standards

• The use of Restricted Stock Units (RSUs) as a component of non-employee director compensation is a common practice across various industries, including the insurance sector.
• Many companies, such as Travelers Companies Inc. (TRV) or Progressive Corporation (PGR), utilize similar equity-based compensation plans to incentivize directors and align their interests with long-term company performance.
• The conversion of RSUs upon vesting and the grant of new RSUs are standard mechanisms for delivering such compensation. Specific comparable companies' director compensation structures would need to be analyzed from their proxy statements (DEF 14A filings) to provide a detailed comparison of RSU amounts or total compensation, which is beyond the scope of this Form 4.

Corporate Governance

Related Party Transactions

• The conversion of 1,300 Restricted Stock Units into common shares and the grant of 894 new Restricted Stock Units to Gregg M. Sherrill, a Director of The Allstate Corporation, constitute related party transactions as they involve compensation from the company to a member of its board.

Stakeholder Impact

• Shareholders: The transactions represent routine director compensation and an increase in a director's direct shareholding, which can be viewed as a positive signal of alignment with shareholder interests.

Next Steps

• The 894 Restricted Stock Units granted on June 2, 2025, are expected to convert into common stock on the third anniversary of the grant date (June 2, 2028), or earlier upon specific conditions (termination of Board service, death, or disability).

Key Dates

Keywords

Allstate Corporation, ALL, Gregg M. Sherrill, Form 4, SEC filing, insider transaction, restricted stock units, RSU conversion, equity compensation, director compensation, common stock, beneficial ownership