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Insider Trends: Allstate Insider Converts Option/Derivative Security Sells Portion to Pay Tax, Buy Trend Intact

05/11/2021 12:58

04:44 PM EDT, 05/11/2021 (MT Newswires) -- On May 07, 2021, Glenn T Shapiro, Prespersonalproperty&Liability, exercised options/derivative securities for 100,725 shares of Allstate (ALL) and sold 84,695 shares in the company for $10,988,329 to meet tax obligations. After accounting for tax obligations this transaction resulted in a net acquisition of 16,030 company shares. Shapiro controls 38,205 shares of the company of which 37,844 shares are owned directly and 361 shares indirectly subsequent to the transactions disclosed in the SEC Form 4 filing. These holdings have an approximate market value of $5.14 million as of the prior-day closing price. Additionally, Shapiro has been granted 21,754 stock options by the company which are in the money and carry a value of approximately $914,321 as of yesterday's closing price.

Over the last 90 days, previous to the date of this filing, there have been 25 insider transactions reported to the SEC for Allstate. These transactions came from the activities of 11 different insiders that resulted in a net acquisition of 159,209 company shares. Relative to the preceding 90-day window of time, there were 8 transactions from 4 insiders which resulted in the net disposition of 98,738 shares.

This is lower than the average level of insider transactions in the 61-company Property & Casualty Insurance peer group over the last 90-day period. Within the peer group activity averaged 128.5 transactions per company, and disposition of 13,175 shares on average.

SEC Story Link http://www.sec.gov/Archives/edgar/data/899051/000112760221016238/xslF345X03/form4.xml

This report does not constitute a recommendation to purchase or sell any security and the analysts are not registered investment advisors. Further analysis is recommended before undertaking any position in any security. Any risks are solely the responsibility of the buyer/seller. The authors, publishers and distributors of the MT Newswires Live Briefs service and any associates thereof accept no liability for the content or actions taken by anyone or institution utilizing this report.