Form 4: Allstate EVP & CTO Converts RSUs, Sells Shares for Tax

Allstate's EVP & CTO, Zulfikar Jeevanjee, converted Restricted Stock Units into common stock and subsequently sold a portion for tax obligations.

Summary

• Zulfikar Jeevanjee, EVP & CTO AIC, acquired 565 shares of Allstate Common Stock on February 24, 2026, through the conversion of Restricted Stock Units (RSUs).
• The RSU conversion was executed without payment of any consideration, pursuant to The Allstate Corporation 2019 Equity Incentive Plan.
• Following the RSU conversion, 16,350 shares of Common Stock were beneficially owned directly.
• A disposition of 249 shares of Common Stock occurred on February 24, 2026, at a price of $209.82 per share, likely for tax withholding purposes.
• After these transactions, Zulfikar Jeevanjee directly beneficially owns 16,101 shares of Common Stock.
• A total of 1,130 Restricted Stock Units remain, with future conversion dates scheduled for February 24, 2027, and February 24, 2028.

Sentiment

Score: 6

Explanation: StockSavvy.ai views this as a moderately positive, routine event. The vesting of RSUs is a positive for the executive and reflects ongoing compensation, while the associated share sale for tax purposes is a standard, non-discretionary action.

Positives

• The conversion of Restricted Stock Units into common shares represents the vesting of previously awarded equity compensation, indicating continued alignment of executive interests with shareholder value.
• The transaction is a routine part of executive compensation plans, reflecting the successful fulfillment of vesting conditions.

Negatives

• A portion of the converted shares (249 shares) was sold, which reduces the direct beneficial ownership of the reporting person, although this is a common practice for tax obligations related to RSU vesting.

Future Outlook

Future conversions of the remaining 1,130 Restricted Stock Units are scheduled to occur on February 24, 2027, and February 24, 2028, as part of the existing equity incentive plan.

Industry Context

StockSavvy.ai notes that routine insider transactions, such as RSU conversions and subsequent tax-related sales, are common across the insurance and financial services industry. These events typically reflect pre-scheduled compensation plans rather than discretionary trading based on new material information. Competitors like Progressive (PGR) and Travelers (TRV) also utilize similar equity compensation structures for their executives.

Comparison to Industry Standards

• The conversion of Restricted Stock Units (RSUs) into common stock is a standard practice for executive compensation across publicly traded companies, aligning with global benchmarks for long-term incentive plans.
• The subsequent sale of a portion of the shares to cover tax obligations upon vesting is also a widely accepted and common procedure, seen in companies of similar size and industry globally.

Stakeholder Impact

• Shareholders: The transaction is a routine insider filing and is unlikely to have a significant direct impact on the company's share price or overall shareholder value.
• Employees: Reflects standard executive compensation practices, which can influence broader employee incentive structures.

Next Steps

• Scheduled conversion of remaining Restricted Stock Units on February 24, 2027.
• Scheduled conversion of remaining Restricted Stock Units on February 24, 2028.

Key Dates

Keywords

Allstate, ALL, Form 4, Insider Transaction, Restricted Stock Units, RSU conversion, Equity Compensation, Executive Compensation, Share Sale, Tax Withholding