8-KMaterial AgreementsExhibits & Filings

ALLSTATE CORP 8-K Report, Material Agreement (Jul 20, 2006)

Filed July 20, 2006For Securities:ALLALL-PJALL-PBALL-PHALL-PI

Summary

This 8-K filing by The Allstate Corporation, dated July 18, 2006, primarily reports on the approval of a new form of nonqualified Option Award Agreement under its Amended and Restated 2001 Equity Incentive Plan by the Compensation and Succession Committee of the Board of Directors. While the filing itself doesn't disclose specific financial results or significant business developments, it signals a procedural step in the company's executive compensation strategy. Investors interested in corporate governance and executive compensation should note this action. The specific terms and conditions of the option awards, detailed in the referenced Exhibit 10.1, would be critical for understanding potential future equity dilution or the incentive structure for key management personnel. This filing is more about the mechanics of compensation rather than immediate operational or financial performance.

Key Highlights

  • 1Allstate Corporation's Compensation and Succession Committee approved a new form of nonqualified Option Award Agreement on July 18, 2006.
  • 2The agreement is part of The Allstate Corporation Amended and Restated 2001 Equity Incentive Plan.
  • 3This filing (Item 1.01) indicates the entry into a material definitive agreement concerning employee stock options.
  • 4The actual form of the Option Award Agreement is attached as an exhibit (Exhibit 10.1) to this 8-K filing.
  • 5The filing does not contain specific financial performance data or operational updates.
  • 6The report serves as a formal notification of changes or approvals related to executive compensation plans.

Frequently Asked Questions

The main purpose of this 8-K filing is to report that Allstate Corporation's Compensation and Succession Committee approved a new form of nonqualified Option Award Agreement for its equity incentive plan.

No, this specific 8-K filing does not provide any financial results or operational updates for Allstate Corporation. Its focus is solely on the approval of an executive compensation agreement.

The details of the new Option Award Agreement can be found in Exhibit 10.1, which is attached to this 8-K filing and available for review.

This is the company's long-standing plan that allows for the granting of equity-based awards, such as stock options, to employees and executives to incentivize performance and align their interests with shareholders. The 'Amended and Restated' nature indicates it has been updated from its original form.