filings.toolsItem 1A. Risk Factors
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Item 1A. Risk Factors
There have been no material changes in our risk factors from those disclosed in Part I, Item 1A in our annual report on Form 10-K for the year ended December 31, 2020.
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
Issuer Purchases of Equity Securities
| Period | Total number of shares (or units) purchased (1) | Average price paid per share (or unit) | Total number of shares (or units) purchased as part of publicly announced plans or programs (3) | Maximum number (or approximate dollar value) of shares (or units) that may yet be purchased under the plans or programs (4) | ||||||||||||||||||||||
| July 1, 2021 - July 31, 2021 | ||||||||||||||||||||||||||
| Open Market Purchases | 1,554,010 | $ | 130.94 | 1,553,150 | ||||||||||||||||||||||
| August 1, 2021 - August 31, 2021 | ||||||||||||||||||||||||||
| Open Market Purchases | 1,451,465 | $ | 133.44 | 1,450,124 | ||||||||||||||||||||||
| ASR Agreement (2) | 4,737,663 | $ | 133.39 | 4,737,663 | ||||||||||||||||||||||
| September 1, 2021 - September 30, 2021 | ||||||||||||||||||||||||||
| Open Market Purchases | 620,447 | $ | 130.30 | 614,061 | ||||||||||||||||||||||
| ASR Agreement (2) | 885,095 | $ | 133.39 | 885,095 | ||||||||||||||||||||||
| Total | 9,248,680 | $ | 132.78 | 9,240,093 | $ | 4,170 | million |
(1)In accordance with the terms of its equity compensation plans, Allstate acquired the following shares in connection with the vesting of restricted stock units and performance stock awards and the exercise of stock options held by employees and/or directors. The shares were acquired in satisfaction of withholding taxes due upon exercise or vesting and in payment of the exercise price of the options.
July: 860
August: 1,341
September: 6,386
(2)In August 2021, Allstate entered into an accelerated share repurchase program (“ASR” agreement”) with JPMorgan Chase Bank, National Association (“JPMorgan Chase”) to purchase $750 million of our outstanding common stock. In exchange for an upfront payment of $750 million, JPMorgan Chase initially delivered 4.7 million shares. The ASR agreement concluded on September 17, 2021, and we repurchased a total of 5.6 million shares at an average price of $133.39.
(3)From time to time, repurchases under our programs are executed under the terms of a pre-set trading plan meeting the requirements of Rule 10b5-1(c) of the Securities Exchange Act of 1934.
(4)In February 2020, we announced the approval of a common share repurchase program for $3 billion which was completed in August 2021. In August 2021, we announced the approval of a common share repurchase program for $5 billion which is expected to be completed by the end of March 2023.
Other Information Part II.
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