Form 4: Allstate Director Monica J. Turner Reports Acquisition of 1,045 Restricted Stock Units

Monica J. Turner, a director of Allstate Corp, reported the acquisition of 1,045 Restricted Stock Units (RSUs) on June 1, 2024, under the company's 2017 Equity Compensation Plan for Non-Employee Directors.

Summary

• On June 4, 2024, Monica J. Turner, a director of Allstate Corp, filed a Form 4 with the SEC.
• The report details the acquisition of 1,045 Restricted Stock Units (RSUs) on June 1, 2024.
• These RSUs were granted under The Allstate Corporation 2017 Equity Compensation Plan for Non-Employee Directors.
• Each RSU represents the right to receive one share of Allstate common stock.
• The RSUs will convert into common stock upon the earlier of (i) the third anniversary of the date of grant, (ii) the day following the date on which the reporting person's Board service terminates, and (iii) the day following the date of the reporting person's death or disability.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction related to director compensation, which is generally viewed neutrally. The grant of RSUs can be seen as a positive sign of aligning director interests with shareholder value.

Positives

• The grant of RSUs aligns the director's interests with those of the shareholders.
• The vesting schedule encourages continued service on the board.

Future Outlook

The RSUs will convert into common stock based on the vesting schedule outlined in the 2017 Equity Compensation Plan.

Industry Context

This is a standard practice for compensating non-employee directors, aligning their interests with the long-term performance of the company.

Comparison to Industry Standards

• Granting restricted stock units to non-employee directors is a common practice among publicly traded companies to align their interests with shareholders.
• Companies like Progressive, Berkshire Hathaway, and State Farm also utilize equity compensation plans for their board members.
• The specific terms of these plans, such as vesting schedules and the number of units granted, can vary based on company size, performance, and industry standards.

Stakeholder Impact

• The acquisition of RSUs by a director can positively impact shareholders by aligning management's interests with the company's long-term success.
• Employees may view this as a positive sign of the company's commitment to its leadership.

Key Dates