4/A: Allstate Executive Mario Rizzo Amends Form 4 Filing to Correct Stock Option and RSU Grant Numbers
SEC Filing (Form 4/A)
Mario Rizzo, a PresPersonalProperty-Liability at Allstate, amended a previous Form 4 filing to correct the number of stock options and restricted stock units (RSUs) granted on February 21, 2024.
Summary
- Mario Rizzo, a PresPersonalProperty-Liability at Allstate, filed an amended Form 4 with the SEC.
- The amendment corrects a calculation error in the original filing from February 23, 2024, regarding the number of stock options and restricted stock units (RSUs) granted on February 21, 2024.
- The corrected filing reports the grant of 22,129 employee stock options and 5,497 restricted stock units (RSUs).
- The stock options have an exercise price of $159.17 and vest in three equal installments on February 21, 2025, 2026, and 2027, expiring on February 21, 2034.
- The RSUs will convert into shares of Allstate common stock in three equal installments on February 21, 2025, 2026, and 2027 under The Allstate Corporation 2019 Equity Incentive Plan.
Sentiment
Score: 7
Explanation: The document is a routine regulatory filing correcting a minor error. It doesn't contain any information that would significantly impact investor sentiment, but the correction itself is a positive sign of diligence.
Positives
- The amendment provides accurate information regarding the executive's compensation, promoting transparency.
Future Outlook
The stock options vest and the RSUs convert into common stock in three equal installments on February 21, 2025, 2026, and 2027.
Industry Context
Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, ensuring transparency in the market.
Stakeholder Impact
- Shareholders benefit from accurate reporting of executive compensation.
Key Dates
| Date | Description |
|---|---|
| 02/21/2024 | Date of original grant of stock options and restricted stock units (RSUs). |
| 02/23/2024 | Date of original Form 4 filing with incorrect information. |
| 02/21/2025 | First vesting date for one-third of the stock options and conversion date for one-third of the RSUs. |
| 02/21/2026 | Second vesting date for one-third of the stock options and conversion date for one-third of the RSUs. |
| 02/21/2027 | Final vesting date for one-third of the stock options and conversion date for one-third of the RSUs. |
| 02/21/2034 | Expiration date of the stock options. |
| 03/08/2024 | Date of amended Form 4/A filing. |
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