Allstate 2011 Annual Report Download - page 55

Option Exercises and Stock Vested at Fiscal Year-End 2010
The following table summarizes the options exercised by the named executives during 2010 and the restricted
stock and restricted stock unit awards that vested during 2010.
OPTION EXERCISES AND STOCK VESTED AT FISCAL YEAR-END 2010
Option Awards
(as of 12/31/10) Stock Awards
Number of Shares Number of Shares
Acquired on Value Realized Acquired on Value Realized
Name Exercise (#) on Exercise ($) Vesting (#) on Vesting ($)
Mr. Wilson 0 0 23,450 732,109
Mr. Civgin 0 0 2,000 57,400
Mr. Lacher 0 0 0 0
Ms. Mayes 41,136 525,245 0 0
Mr. Winter 0 0 0 0
Retirement Benefits
Each named executive participates in two different defined benefit pension plans, and one of the named
executives participates in a third arrangement that provides additional supplemental pension benefits, referred to
as the pension benefit enhancement. The following table summarizes the named executives’ pension benefits,
which are calculated in the same manner as the change in pension value reflected in the Summary Compensation
Table.
PENSION BENEFITS
NUMBER OF PRESENT
YEARS VALUE OF PAYMENTS
CREDITED ACCUMULATED DURING LAST
NAME PLAN NAME SERVICE (#) BENEFIT(1)(2) ($) FISCAL YEAR ($)
Mr. Wilson Allstate Retirement Plan 17.8 419,777 0
Supplemental Retirement Income Plan 17.8 4,476,573 0
Mr. Civgin(3) Allstate Retirement Plan 2.3 5,882 0
Supplemental Retirement Income Plan 2.3 21,395 0
Mr. Lacher(3) Allstate Retirement Plan 1.2 0 0
Supplemental Retirement Income Plan 1.2 3,908 0
Ms. Mayes Allstate Retirement Plan 3.2 12,705 0
Supplemental Retirement Income Plan 3.2 27,111 0
Ms. Mayes’ pension benefit enhancement(4) 3.2 137,043 0
Mr. Winter(3) Allstate Retirement Plan 1.2 0 0
Supplemental Retirement Income Plan 1.2 3,833 0
(1) These amounts are estimates and do not necessarily reflect the actual amounts that will be paid to the named executives, which will
only be known at the time they become eligible for payment. Accrued benefits were calculated as of December 31, 2010, and used to
calculate the present value of accumulated benefits at December 31, 2010. December 31 is our pension plan measurement date used
for financial statement reporting purposes.
The amounts listed in this column are based on the following assumptions:
●Discount rate of 6%, payment form assuming 80% paid as a lump sum and 20% paid as an annuity, lump-sum/annuity
conversion segmented interest rates of 5.0% for the first five years, 6.5% for the next 15 years, and 7% for all years after 20 and
the 2011 combined static Pension Protection Act funding mortality table with a blend of 50% males and 50% females (as
required under the Internal Revenue Code), and post-retirement mortality for annuitants using the 2011 Internal Revenue Service
mandated annuitant table; these are the same as those used for financial reporting year-end disclosure as described in the notes
to Allstate’s consolidated financial statements. (See note 16 to our audited financial statements for 2010.)
●Based on guidance provided by the Securities and Exchange Commission, we have assumed normal retirement age which is age
65 under both the ARP and SRIP, regardless of any announced or anticipated retirements.
●No assumption for early termination, disability, or pre-retirement mortality.
(2) The figures shown in the table above reflect the present value of the current accrued pension benefits calculated using the
assumptions described in the preceding footnote. If the named executives’ employment terminated on December 31, 2010, the lump
Footnotes continue
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Proxy Statement