Thomas J Wilson Plans To Sell $34.0 Million Of Allstate Shares
The planned transaction covers shares obtained through an option exercise, separate from Friday's sales by two accounts.
Thomas J Wilson, chairman, president and CEO of Allstate, which sells mainly auto and homeowners insurance, plans to sell $34.0 million of its stock. His SEC notice filed Tuesday covers 130,917 shares and describes a proposed transaction, rather than a completed sale.
Option Shares Head For Sale
Wilson plans to route the sale through Fidelity Brokerage Services, with Tuesday listed as the approximate sale date. He obtained the shares Friday by exercising stock options and paying cash.
The proposal comes against a rising-stock backdrop. Allstate shares gained about 22% this year through Monday's close and about 26% over the past 12 months through that session. The stock closed Monday at $253.79.
Two Accounts Already Sold
Separate from Wilson's proposal, two selling accounts reported 43,077 shares sold for $11.2 million in gross proceeds in the notice's past-three-months sales history. Both transactions occurred Friday.
Tjw Options, Llc 2017 Series sold 36,582 shares for $9.5 million in gross proceeds. Tjw Options Llc 2017 Series Last Third sold 6,495 shares for $1.7 million.
Those proceeds belong to the named accounts' completed sales; the $34.0 million figure values Wilson's proposed sale.
Sources
- Form 144 — Thomas J Wilson (ALL) — SEC EDGAR
