Allstate Corporation (NYSE: ALL) hires Christian Lown as CFO starting Aug. 3, 2026
Filing Impact
Filing Sentiment
Form Type
8-K
Rhea-AI Filing Summary
The Allstate Corporation appointed Christian M. Lown, age 56, as Executive Vice President and Chief Financial Officer of The Allstate Corporation and Allstate Insurance Company, effective August 3, 2026. He previously served as chief financial officer of CoStar Group from July 2024 to July 2026 and as executive vice president and chief financial officer of Freddie Mac from June 2020 to June 2024.
Compensation includes an annual base salary of $875,000, a discretionary cash incentive target of 200% of salary, and an equity incentive opportunity of 375% of salary, delivered 60% in performance stock awards, 20% in restricted stock units and 20% in stock options. Lown will receive a one-time cash sign-on bonus of $2,000,000 and a sign-on equity grant of $4,100,000 in RSUs with ratable three-year vesting. His 2026 cash and equity incentives will be pro-rated based on his hire date, and he will succeed former CFO Jess Merten, with John Dugenske continuing as interim CFO until Lown joins.
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8-K Event Classification
3 items: 5.02, 7.01, 9.01
3 items
Item 5.02
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers
Governance
Key personnel changes including departures, elections, or appointments of directors and executive officers.
Item 7.01
Regulation FD Disclosure
Disclosure
Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Key Figures
Base salary: $875,000
Target cash incentive: 200% of salary
Equity incentive opportunity: 375% of salary
+3 more
6 metrics
Base salary
$875,000
Annual base salary for Christian M. Lown as CFO effective August 3, 2026
Target cash incentive
200% of salary
Annual discretionary cash incentive target for Christian M. Lown
Equity incentive opportunity
375% of salary
Target annual equity incentive opportunity for Christian M. Lown
Sign-on cash bonus
$2,000,000
One-time cash sign-on bonus payable within 60 days of start date
Sign-on RSU grant
$4,100,000
Sign-on restricted stock unit grant with ratable three-year vesting
Policies in force
more than 212 million policies
Allstate policies in force as stated in the company description
Key Terms
Regulation FD, restricted stock units, performance stock awards, Noncumulative Preferred Stock
4 terms
Regulation FD regulatory
"Item 7.01. Regulation FD Disclosure On July 14, 2026"
Regulation FD is a rule that prevents company insiders, like executives, from sharing important information with some people before others get it. It matters because it helps ensure all investors have equal access to key news, making the stock market fairer and reducing chances of insider trading.
restricted stock units financial
"20% in restricted stock units (“RSUs”) and 20% in stock options"
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
performance stock awards financial
"delivered 60% in performance stock awards, 20% in restricted stock units"
Noncumulative Preferred Stock financial
"5.100% Noncumulative Preferred Stock, Series H"
Preferred shares that normally pay a fixed dividend but do not accumulate unpaid payments — if the company skips a dividend, the missed amount is not owed later. Investors care because these shares offer priority over common stock for dividends and in liquidation, yet provide less protection for income reliability than cumulative preferreds; think of it like a subscription where missed issues are not refunded, so income can be less predictable.
FAQ
What did Allstate (ALL) announce regarding its Chief Financial Officer?
Allstate announced that Christian M. Lown will become Executive Vice President and Chief Financial Officer effective August 3, 2026. He will serve as CFO of both The Allstate Corporation and Allstate Insurance Company, succeeding former CFO Jess Merten after an interim period led by John Dugenske.
When does Christian Lown start as Allstate (ALL) CFO and whom does he replace?
Christian Lown will start as Allstate’s CFO on August 3, 2026. He succeeds Jess Merten, who became President of Property-Liability in October 2025. John Dugenske has been serving as interim Chief Financial Officer and will continue until Lown joins Allstate.
What is Christian Lown’s annual compensation structure at Allstate (ALL)?
Christian Lown’s package includes a $875,000 annual base salary, a discretionary cash incentive target of 200% of salary, and an equity incentive opportunity of 375% of salary. The equity is delivered 60% in performance stock awards, 20% in restricted stock units and 20% in stock options.
What sign-on incentives will Allstate (ALL) provide to Christian Lown?
Christian Lown will receive a one-time $2,000,000 cash sign-on bonus within 60 days of his start date and a sign-on equity grant of $4,100,000 in restricted stock units. The RSUs vest ratably over three years, beginning after he joins the company.
What prior experience does Christian Lown bring to Allstate (ALL) as CFO?
Christian Lown has more than 25 years of senior finance and capital markets experience, including serving as Chief Financial Officer of CoStar Group from July 2024 to July 2026 and Executive Vice President and Chief Financial Officer of Freddie Mac from June 2020 to June 2024, plus earlier senior roles at Navient, Morgan Stanley and UBS.
How will Christian Lown’s 2026 incentives at Allstate (ALL) be treated?
For 2026, Christian Lown’s cash incentive and equity opportunity will be pro-rated based on his August 3 hire date. He will still participate in Allstate’s standard annual incentive and long-term equity programs under the same target percentages defined in his compensation package.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 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): July 14, 2026
THE ALLSTATE CORP ORATION
(Exact name of registrant as specified in its charter)
(State or other jurisdiction of incorporation) | (Commission File Number) | (IRS Employer Identification No.) | ||||||||||||
(Address of principal executive offices) (Zip Code)
Registrant’s telephone number, including area code (847 ) 402-2800
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:
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 NYSE Texas | ||||||
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 5 - Corporate Governance and Management
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
The Allstate Corporation today announced that effective August 3, 2026, Christian M. Lown will join Allstate as Executive Vice President and Chief Financial Officer of The Allstate Corporation and Allstate Insurance Company.
Prior to joining Allstate, Mr. Lown, age 56, served as the chief financial officer of CoStar Group, Inc. from July 2024 to July 2026 and executive vice president and chief financial officer of the Federal Home Loan Mortgage Corporation (Freddie Mac) from June 2020 to June 2024. Mr. Lown holds a BA from the University of Lynchburg and an MBA from the University of Virginia.
Effective August 3, 2026, Mr. Lown will receive an annual base salary of $875,000. In addition, Mr. Lown will be eligible for discretionary cash incentive awards, with an annual target opportunity of 200% of salary and an equity incentive opportunity of 375% of salary delivered 60% in performance stock awards, 20% in restricted stock units (“RSUs”) and 20% in stock options. Mr. Lown’s 2026 cash incentive and equity opportunity will be pro-rated based on his hire date. Mr. Lown will receive a one-time cash sign-on bonus of $2,000,000 within 60 days of his start date and be eligible for a sign-on equity grant of $4,100,000 in RSUs, with ratable 3-year vesting, on the third business day of the month following his start date.
Section 7 - Regulation FD
Item 7.01. Regulation FD Disclosure
On July 14, 2026, the Registrant issued a press release announcing the appointment of Christian M. Lown as its Executive Vice President and Chief Financial Officer. A copy of the press release is attached as Exhibit 99.1 to this report. This exhibit is furnished and not filed, pursuant to Instruction B.2 of Form 8-K.
Item 9.01. Financial Statements and Exhibits
(d) Exhibits
| Exhibit No. | Description | |||||||
| 99.1 | The Registrant’s Press Release Dated July 14, 2026 | |||||||
| 104 | Cover Page Interactive Data File (formatted as inline XBRL). | |||||||
2
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/Julie Cho | |||||||
| Name: | Julie Cho | |||||||
| Title: | Vice President, Deputy General Counsel and Corporate Secretary | |||||||
Date: July 14, 2026 | ||||||||
3
Exhibit 99.1
FOR IMMEDIATE RELEASE
Contacts:
Nick Nottoli Media Relations mediateam@allstate.com | Allister Gobin Investor Relations invrel@allstate.com | ||||
Allstate names Christian Lown Chief Financial Officer
NORTHBROOK, Ill., July 14, 2026 – The Allstate Corporation (NYSE: ALL) today announced Christian (Chris) Lown as Executive Vice President and Chief Financial Officer, effective Aug. 3. Lown will report to Tom Wilson, Chair, President and CEO of The Allstate Corporation.
“Chris’s leadership and capital markets expertise will enable us to continue increasing Property-Liability market share and expand protection provided to customers,” said Tom Wilson, who leads Allstate.
“Allstate’s purpose, strategy and execution have led it to be ranked among the world’s best-managed companies,” said Lown. “I am thrilled to be joining this team.”
With more than 25 years of senior leadership experience in finance and capital markets, Lown has led organizations through growth, transformation and complex market environments. He joins Allstate from CoStar Group, where he served as Chief Financial Officer and led finance, investor relations, business development and facilities. He previously served as Chief Financial Officer at Freddie Mac and Navient Corporation, following senior finance roles at Morgan Stanley and UBS.
Lown earned an MBA from the University of Virginia Darden School of Business and a bachelor’s degree in international relations from the University of Lynchburg.
Lown succeeds Jess Merten, who was named President of Property-Liability in October 2025 after serving as Allstate's Chief Financial Officer. John Dugenske, President, Investments and Corporate Strategy, has served as interim Chief Financial Officer and will continue in that role until Lown joins Allstate.
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About Allstate
The Allstate Corporation (NYSE: ALL) protects people from life’s uncertainties with affordable, simple and connected protection for autos, homes, electronic devices and identities. Products are available through a broad distribution network including Allstate agents, independent agents, major retailers, online, and at the workplace. Allstate has more than 212 million policies in force and is widely known for the slogan “You’re in Good Hands with Allstate.” For more information, visit www.allstate.com.
The Allstate Corporation (NYSE: ALL) protects people from life’s uncertainties with affordable, simple and connected protection for autos, homes, electronic devices and identities. Products are available through a broad distribution network including Allstate agents, independent agents, major retailers, online, and at the workplace. Allstate has more than 212 million policies in force and is widely known for the slogan “You’re in Good Hands with Allstate.” For more information, visit www.allstate.com.