Travelers 2010 Annual Report Download - page 262

Item 9B. OTHER INFORMATION
All of the Company’s executive officers hold equity in the Company in excess of the required level
under the Company’s executive stock ownership policy. For a summary of this policy as currently in
effect, see ‘‘Stock Ownership Guidelines’’ under ‘‘Executive Compensation—Compensation Discussion
and Analysis’’ in the Company’s proxy statement filed with the SEC on March 17, 2010. From time to
time, some of the Company’s executives may determine that it is advisable to diversify their investments
for personal financial planning reasons, or may seek liquidity for other reasons, and may sell shares of
common stock of the Company in the open market, in private transactions or to the Company. To
effect such sales, some of the Company’s executives have entered into, and may in the future enter
into, trading plans designed to comply with the Company’s Securities Trading Policy and the provisions
of Rule 10b5-1 under the Securities Exchange Act of 1934. The trading plans will not reduce any of the
executives’ ownership of the Company’s shares below the applicable executive stock ownership
guidelines. The Company does not undertake any obligation to report Rule 10b5-1 plans that may be
adopted by any employee or director of the Company in the future, or to report any modifications or
termination of any publicly announced plan.
As of the date of this report, Jay S. Benet, Vice Chairman and Chief Financial Officer, was the
only ‘‘named executive officer’’ (i.e., an executive officer named in the compensation disclosures in the
Company’s proxy statement) that has entered into Rule 10b5-1 trading plans that remain in effect. The
trading plans extend up to approximately one year from the date of this report. Under the Company’s
stock ownership guidelines, Mr. Benet has a target ownership level established as the lesser of 30,000
shares or the equivalent value of 300% of base salary (as such amounts are calculated for purposes of
the stock ownership guidelines). See ‘‘Executive Compensation—Compensation Discussion and
Analysis—Stock Ownership Guidelines’’ in the Company’s proxy statement filed with the SEC on
March 17, 2010.
PART III
Item 10. DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE
Executive Officers of the Company
Set forth below is information concerning the Company’s executive officers as of February 17,
2011.
Name Age Office
Jay S. Fishman ........... 58 Chairman of the Board of Directors and Chief Executive Officer
Jay S. Benet ............. 58 Vice Chairman and Chief Financial Officer
Charles J. Clarke ......... 75 Vice Chairman
William H. Heyman ....... 62 Vice Chairman and Chief Investment Officer
Alan D. Schnitzer ......... 45 Vice Chairman, Chief Legal Officer and Executive Vice
President—Financial, Professional and International Insurance
Brian W. MacLean ........ 57 President and Chief Operating Officer
Andy F. Bessette .......... 57 Executive Vice President and Chief Administrative Officer
Kenneth F. Spence, III ..... 55 Executive Vice President and General Counsel
Doreen Spadorcia ......... 53 Executive Vice President—Personal Insurance and Claim Services
Maria Olivo ............. 46 Executive Vice President—Treasurer
William E. Cunningham, Jr. . 45 Executive Vice President—Business Insurance
John P. Clifford, Jr. ....... 55 Executive Vice President—Human Resources
Jay S. Fishman, 58, has been Chairman since September 2005 and Chief Executive Officer of the
Company since joining SPC in October 2001. He held the additional title of President from October
2001 until June 2008 and Chairman of SPC from October 2001 until the Merger. Mr. Fishman held
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