Form 4: Allstate Executive Zulfikar Jeevanjee Reports Stock Transactions
SEC Form 4 Filing
Zulfikar Jeevanjee, EVP & CTO AIC of Allstate Corp, reports the conversion of restricted stock units and disposition of shares to cover tax obligations.
Summary
- Zulfikar Jeevanjee, an executive at Allstate Corp, filed a Form 4 detailing changes in beneficial ownership of company stock.
- On February 21, 2025, Jeevanjee converted 754 Restricted Stock Units (RSUs) into 754 common shares.
- Also on February 21, 2025, Jeevanjee disposed of 242 common shares at a price of $185.66 to satisfy tax obligations.
- Following these transactions, Jeevanjee directly owns 7,572 shares of Allstate common stock and 1,508 Restricted Stock Units.
- The remaining RSUs will convert on February 21, 2026 and February 21, 2027.
- Jeevanjee has a power of attorney naming Julie E. Cho, Meghan E. Jauhar, Jillian K. Ludwig and Lori I. Marsh as attorneys-in-fact to handle SEC filings.
Sentiment
Score: 5
Explanation: The document reflects standard executive stock transactions, with no indication of unusual or concerning activity. The sentiment is neutral.
Future Outlook
The remaining RSUs will convert on February 21, 2026 and February 21, 2027.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. These filings are closely watched by investors seeking insights into management's perspective on the company's stock.
Comparison to Industry Standards
- Executive stock transactions are common across publicly traded companies like Allstate.
- Companies such as State Farm, Progressive, and Berkshire Hathaway also have executives who regularly report stock transactions via Form 4 filings.
- The specifics of RSU grants and vesting schedules vary by company, but the general practice of using RSUs as part of executive compensation is widespread.
Stakeholder Impact
- The transactions have a minimal direct impact on stakeholders.
- The filing provides transparency to shareholders regarding executive compensation and stock ownership.
Key Dates
| Date | Description |
|---|---|
| 2024-12-11 | Date of Power of Attorney execution. |
| 2025-02-21 | Conversion of 754 Restricted Stock Units into common stock and disposition of 242 shares for tax obligations. |
| 2025-02-25 | Date of Form 4 filing. |
| 2026-02-21 | Next conversion date for remaining Restricted Stock Units. |
| 2027-02-21 | Final conversion date for remaining Restricted Stock Units. |
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