| Common Stock, par value $0.01 per share | ALL | New York Stock Exchange |
| Common Stock, par value $0.01 per share | ALL | Chicago Stock Exchange |
| Series A Preferred Stock |
| Series D Preferred Stock |
| Series E Preferred Stock |
| Series F Preferred Stock |
| Series G Preferred Stock |
| Series H Preferred Stock |
| NEW YORK STOCK EXCHANGE, INC. |
| CHICAGO STOCK EXCHANGE, INC. |
| Common Stock par value |
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported): November 1, 2019
THE ALLSTATE CORPORATION
(Exact Name of Registrant as Specified in Its Charter)
| Delaware | 1-11840 | 36-3871531 | ||
| (State or Other Jurisdiction | (Commission | (IRS Employer | ||
|
of Incorporation) |
File Number) | Identification No.) |
| 2775 Sanders Road, Northbrook, Illinois | 60062 | |
| (Address of Principal Executive Offices) | (Zip Code) |
(847) 402-5000
(Registrant’s Telephone Number, Including Area Code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| ¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbols |
Name of each exchange on which
registered |
| Common Stock, par value $0.01 per share | ALL |
New York Stock Exchange Chicago Stock Exchange |
| 5.100% Fixed-to-Floating Rate Subordinated Debentures due 2053 | ALL.PR.B | New York Stock Exchange |
| Depositary Shares represent 1/1,000th of a share of 5.625% Noncumulative Preferred Stock, Series A | ALL PR A | New York Stock Exchange |
| Depositary Shares represent 1/1,000th of a share of 5.625% Noncumulative Preferred Stock, Series G | ALL PR G | New York Stock Exchange |
| Depositary Shares represent 1/1,000th of a share of 5.100% Noncumulative Preferred Stock, Series H | ALL PR H | New York Stock Exchange |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
| Emerging growth company | ¨ |
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨
Section 8 – Other Events
Item 8.01. Other Events.
On November 1, 2019, the Registrant entered into an accelerated share repurchase agreement with Goldman Sachs & Co. LLC (“Goldman Sachs”) to purchase $500 million of its outstanding common stock. The majority of the shares to be repurchased under this agreement will be received by the Registrant at the agreement’s inception. It is expected that Goldman Sachs will purchase the shares that it delivers under the agreement in the market no later than January 8, 2020. The final purchase price per share and number of shares to be delivered by Goldman Sachs will be determined at the conclusion of the agreement and settlement will consist of the Registrant receiving shares based on the average of the daily volume weighted average prices of the Registrant’s common stock during the period of Goldman Sachs’s purchases. If the Registrant is required to pay a settlement amount, the Registrant may settle in shares of its common stock or, under certain circumstances, may elect to settle in cash. All of the shares acquired by the Registrant under the agreement will be placed into its treasury.
The agreement is part of the Registrant’s repurchase program totaling $3 billion that was announced on October 31, 2018. Excluding repurchases under this agreement, during 2019 the Registrant repurchased 12.3 million common shares in total as of October 31, 2019, for an aggregate amount of $1.37 billion.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
|
THE ALLSTATE CORPORATION (Registrant) |
||
| By: | /s/ Daniel G. Gordon | |
| Name: | Daniel G. Gordon | |
| Title: | Vice President, Assistant General Counsel and Assistant Secretary | |
|
Date: November 1, 2019 |
||