Allstate 2011 Annual Report Download - page 30

Director Compensation
The following table summarizes the compensation of each of our non-employee directors during 2010 for his
or her services as a member of the Board and its committees.
Fees Earned or
Paid in Cash Stock Awards
Name ($) ($)(1) Total ($)
Mr. Ackerman 52,500 150,020 202,520
Mr. Beyer 52,500 150,020 202,520
Mr. Farrell(2) 63,750(3) 150,020 213,770
Mr. Greenberg 52,500 150,020 202,520
Mr. LeMay 52,500 150,020 202,520
Ms. Redmond 52,500 212,534 265,034
Mr. Riley, Jr.(4) 63,750 150,020 213,770
Mr. Smith 52,500 150,020 202,520
Ms. Sprieser(5) 67,500 150,020 217,520
Mrs. Taylor 52,500(6) 150,020 202,520
(1) The aggregate grant date fair value of restricted stock units is based on the market value of Allstate stock as of the date of the
grant. The final closing price in part reflects the payment of future dividends expected. For the annual restricted stock unit awards
granted to each director on June 1, 2010, the market value of Allstate stock on the grant date was $29.66. The aggregate grant
date fair value of the annual 2010 restricted stock unit awards, computed in accordance with Financial Accounting Standards
Board Accounting Standards Codification Topic 718, was $150,020 for each director. Pursuant to the director compensation policy,
Ms. Redmond received an award when she joined the Board in January 2010. The market value of Allstate stock on the grant date
was $30.04. The aggregate grant date fair value of the award, computed in accordance with Financial Accounting Standards Board
Accounting Standards Codification Topic 718, was $62,514. Each restricted stock unit entitles the director to receive one share of
Allstate stock on the conversion date. The aggregate number of restricted stock units outstanding as of December 31, 2010, for
each director is as follows: Mr. Ackerman—20,797, Mr. Beyer—16,797, Mr. Farrell—20,797, Mr. Greenberg—20,797, Mr. LeMay—
20,797, Ms. Redmond—7,139, Mr. Riley—20,797, Mr. Smith—20,797, Ms. Sprieser—20,797, and Mrs. Taylor—20,797. Restricted stock
unit awards granted before September 15, 2008, convert into stock one year after termination of Board service, or upon death or
disability if earlier. Restricted stock unit awards granted on or after September 15, 2008, convert into stock upon termination of
Board service, or upon death or disability if earlier.
Non-employee directors no longer receive stock options as part of their compensation and no option awards were granted in 2009
and 2010. The aggregate number of options outstanding as of December 31, 2010, under prior option awards for each director is
as follows: Mr. Ackerman—32,000, of which 30,666 were exercisable, Mr. Beyer—10,667, of which 9,333 were exercisable,
Mr. Farrell—32,000, of which 30,666 were exercisable, Mr. Greenberg—29,000, of which 27,666 were exercisable, Mr. LeMay—32,000,
of which 30,666 were exercisable, Ms. Redmond—0 of which 0 were exercisable, Mr. Riley—32,000, of which 30,666 were
exercisable, Mr. Smith—27,999, of which 26,665 were exercisable, Ms. Sprieser—32,000, of which 30,666 were exercisable, and
Mrs. Taylor—32,000, of which 30,666 were exercisable.
(2) Chair of the Nominating and Governance Committee.
(3) Mr. Farrell elected to receive 20% of his cash retainer in stock.
(4) Chair of the Compensation and Succession Committee.
(5) Chair of the Audit Committee; Chair of a non-standing committee of the Board until July 13, 2010.
(6) Mrs. Taylor elected to receive 100% of her cash retainer in stock.
Beginning June 1, 2010, the timing of our director cash retainer payments changed from annual to quarterly
payments to better align service periods and payments. On June 1, September 1, and December 1, 2010, each
non-employee director was entitled to a $17,500 quarterly cash retainer and each committee chair was entitled to
an additional $3,750 quarterly cash retainer. On June 1, 2010, each non-employee director received an annual
award of restricted stock units under the 2006 Equity Compensation Plan for Non-Employee Directors, as
amended and restated. The number of restricted stock units granted to each director was equal to $150,020
divided by the fair market value of a share of our stock on June 1, 2010. No meeting fees or other professional
fees are paid to the directors. In addition, under Allstate’s Deferred Compensation Plan for Non-Employee
Directors, directors may elect to defer their retainers to an account that generates earnings based on: (a) the
market value of, and dividends paid on, Allstate common shares (common share units); (b) the average interest
rate payable on 90-day dealer commercial paper; (c) Standard & Poor’s 500 Composite Stock Price Index, with
dividends reinvested; or (d) a money market fund. No director has voting or investment powers in common share
units, which are payable solely in cash. Subject to certain restrictions, amounts deferred under the plan, together
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