Allstate 2012 Annual Report Download - page 42

incentive award opportunity for Mr. Wilson in 2011 based on a combination of Mr. Civgin’s individual
which remained at 600% of base salary. performance in 2010 and salary market positioning
relative to peers.
•
• To better align the mix of variable
• Under Mr. Wilson’s leadership, in 2011 Allstate compensation elements with market for 2011, the
delivered on its strategy to improve overall returns Committee approved an increase in the target annual
and offer unique products for different customer incentive award opportunity for Mr. Civgin from 100%
segments. We completed the acquisition of Esurance to 110% of salary offset by a decrease in his target
and Answer Financial, which positions us as the only equity incentive award opportunity from 310% to 300%
insurer to serve customers in each distinct consumer of salary.
segment.
• Mr. Civgin demonstrated strong
• Allstate Financial performance reflected ongoing leadership in the acquisition of Esurance and Answer
progress on its strategy to improve overall business Financial in 2011. Under Mr. Civgin’s leadership Allstate
returns while shifting the mix of business from continued to demonstrate excellent capital management
spread based products to underwritten products. results and continued to develop stronger relationships
• Allstate Investments continued to apply a proactive with its stockholders. The Committee approved an
approach to risk and return optimization throughout annual cash award of $750,000 for Mr. Civgin based
2011, focusing on income and delivering solid returns. on its assessment of his performance in improving
overall returns and positioning Allstate to offer unique
• The Committee approved an annual cash incentive products for different customer segments.
award of $2,252,800 for Mr. Wilson based on its
assessment of his performance in improving overall • Based on the Committee’s
returns. evaluation of Mr. Civgin’s performance during 2010, the
Committee granted him equity awards with a grant date
• Based on the Committee’s fair value of $1,700,000 reflecting his target equity
evaluation of Mr. Wilson’s performance during 2010, incentive award opportunity.
the Committee granted him equity awards with a grant
date fair value of $6,600,000 reflecting his target Ms. Greffin.
equity incentive award opportunity.
• The Committee approved an increase from
• The Committee $510,000 to $590,000 effective February 27, 2011,
continues to review Mr. Wilson’s target total direct based on a combination of Ms. Greffin’s individual
compensation against the benchmark guideline of the performance in 2010 and salary market positioning.
50th percentile of our peers. Mr. Wilson’s salary, annual
cash incentive target of 200% of salary and long-term • No changes were made to
equity incentive target of 600% of salary places his Ms. Greffin’s incentive targets. Ms. Greffin’s annual
target total direct compensation substantially below the incentive opportunity was 110% of salary and the target
50th percentile of our peer group. equity incentive opportunity was 300% of salary.
• Under Ms. Greffin’s leadership,
Other Named Executives Allstate Investments continued to apply a proactive
After year-end, Mr. Wilson evaluated the performance and approach to risk and return optimization, focusing on
contributions of each member of his senior leadership income and delivering solid total returns. In addition, in
team, including each other named executive. Based on his 2011, Allstate Investments was successful in
review, Mr. Wilson recommended specific adjustments to outsourcing a significant portion of its investment
salary and incentive targets as well as actual incentive technology platform to improve our execution
awards. The recommendations were considered and capabilities. The Committee approved an annual cash
approved by the Committee. award of $750,000 for Ms. Greffin based on its
assessment of her performance in generating
Mr. Civgin. investment income and total returns and leading the
investment platform initiative.
• The Committee approved an increase from
$565,000, to $635,000, effective February 27, 2011,
31
Executive Compensation
| The Allstate Corporation
PROXY STATEMENT
Annual Incentive Award.
Incentive Targets.
Annual Incentive Award.
Equity Incentive Award.
Equity Incentive Awards.
Salary.
Target Total Direct Compensation.
Incentive Targets.
Annual Incentive Award.
Salary.