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This excerpt taken from the ALL 8-K filed May 18, 2007. Preferred Stock The following description of the terms of the preferred stock sets forth certain general terms and provisions of the Allstate authorized preferred stock. The Allstate board of directors can, without approval of the stockholders, issue one or more series of preferred stock. The Allstate board can also determine the number of shares of each series and the rights, preferences and limitations of each series including the dividend rights, voting rights, conversion rights, redemption rights and any liquidation preferences of any wholly unissued series of preferred stock, the number of shares constituting each series and the terms and conditions of issue. In some cases, the issuance of preferred shares could delay a change in control of Allstate and make it harder to remove present management. Under certain circumstances, preferred stock could also restrict dividend payments to holders of common stock. No series of preferred stock is currently authorized for issuance by the Allstate board. This excerpt taken from the ALL 10-Q filed May 3, 2006. Preferred Stock
The following description of the terms of the preferred stock sets forth certain general terms and provisions of the Allstate authorized preferred stock.
The Allstate board of directors can, without approval of the stockholders, issue one or more series of preferred stock. The Allstate board can also determine the number of shares of each series and the rights, preferences and limitations of each series including the dividend rights, voting rights, conversion rights, redemption rights and any liquidation preferences of any wholly unissued series of preferred stock, the number of shares constituting each series and the terms and conditions of issue. In some cases, the issuance of preferred shares could delay a change in control of Allstate and make it harder to remove present management. Under certain circumstances, preferred stock could also restrict dividend payments to holders of common stock.
No series of preferred stock is currently authorized for issuance by the Allstate board.
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