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ALLSTATE CORP·4

Feb 26, 4:44 PM ET

Merten Jesse E 4

Research Summary

AI-generated summary

Updated

Allstate (ALL) Pres Jesse Merten Exercises Options and Sells Shares

What Happened

  • Jesse E. Merten, President – Personal Property & Liability at Allstate, exercised/conversion transactions and sold shares. On Feb 24–25, 2026 he acquired 35,187 shares (12,879 @ $122.64; 1,734 @ $133.00; 19,373 @ $137.10; plus 1,201 RSU shares converted at $0.00) and disposed of 34,519 shares (open‑market sales plus 533 shares withheld to cover tax) for aggregate proceeds of $7,200,319. The exercises generated ~$4.47M in intrinsic value based on exercise prices; most of the newly acquired shares were sold the next day under a prearranged plan.

Key Details

  • Transaction dates: Feb 24–25, 2026; Form 4 filed Feb 26, 2026.
  • Acquired: 35,187 shares (includes RSU conversion of 1,201 shares at $0.00).
  • Disposed: 34,519 shares (open‑market sales: 8,811; 15,893; 7,982; 1,300; plus 533 shares for tax withholding).
  • Proceeds from sales: $7,200,319 (sales and tax withholding combined).
  • Net result: +668 shares retained (35,187 acquired − 34,519 disposed).
  • Notable footnotes:
    • RSU conversion (F1): 1,201 RSUs converted to shares at $0; remaining RSUs vest in 2027 and 2028.
    • 10b5‑1 plan (F2): The option exercise and sale transactions were executed pursuant to a Rule 10b5‑1 trading plan adopted Nov 7, 2025.
    • Weighted average sale price disclosures (F3–F6): sale groups had narrow price ranges (approx. $206.96–$210.47); reporter can provide per‑share price breakdown on request.
  • Codes explained: M = option exercise/conversion, S = sale, F = tax withholding/payment.
  • Timeliness: Form 4 was filed Feb 26 for transactions on Feb 24–25; no late filing flag indicated.

Context

  • This was effectively a cashless exercise + immediate disposition pattern: options/RSUs were converted/exercised and the majority of resulting shares were sold the following day under a prearranged 10b5‑1 plan. For retail investors, exercises followed by immediate sales are commonly routine (to cover exercise costs/taxes or to diversify) and do not necessarily signal a change in the insider’s view of the company.