8-KLeadership ChangesShareholder MattersExhibits & Filings

ALLSTATE CORP 8-K Report, Executive Changes (May 21, 2019)

Filed May 21, 2019For Securities:ALLALL-PJALL-PBALL-PHALL-PI

Summary

This 8-K filing details the outcomes of Allstate Corporation's (ALL) annual stockholders meeting held on May 21, 2019. The primary focus for investors is the approval of the Allstate Corporation 2019 Equity Incentive Plan, which replaces the 2013 plan and increases the share pool by 13.4 million shares. This plan is crucial for incentivizing executives and employees, and its approval by a majority of the votes cast indicates strong shareholder support for the company's compensation strategy. Additionally, the filing reports the results of director elections, where all ten nominees were elected with significant support, reflecting confidence in the current board. The advisory vote on executive compensation ('Say-on-Pay') also passed with a majority vote, suggesting shareholder approval of the company's executive remuneration. The ratification of Deloitte & Touche LLP as the independent registered public accountant for 2019 was also overwhelmingly approved. A shareholder proposal regarding political contributions, however, did not pass.

Key Highlights

  • 1Allstate Corporation's 2019 Equity Incentive Plan was approved by shareholders, increasing available shares by 13.4 million.
  • 2All ten director nominees were elected, indicating shareholder confidence in the board's leadership.
  • 3The advisory vote on executive compensation ('Say-on-Pay') received majority shareholder approval.
  • 4Deloitte & Touche LLP was ratified as the independent registered public accountant for 2019 with overwhelming support.
  • 5A shareholder proposal requesting reporting of political contributions did not pass.

Frequently Asked Questions

The approval of the 2019 Equity Incentive Plan is significant because it allows Allstate to grant equity awards to its employees and executives, which is a common tool for incentivizing performance, retaining talent, and aligning employee interests with shareholder value. The increase of 13.4 million shares provides the company with a larger pool for future equity grants.

The majority of votes were cast in favor of approving the 2019 Equity Incentive Plan, electing all ten directors, the 'Say-on-Pay' advisory resolution for executive compensation, and ratifying the appointment of Deloitte & Touche LLP as the independent auditor. A shareholder proposal on political contributions did not receive majority support.

The advisory vote on the compensation of the named executive officers, commonly known as 'Say-on-Pay,' received a majority of the votes cast, indicating shareholder approval of the company's executive compensation practices for the period.

Yes, a shareholder proposal requesting reporting of political contributions did not receive a majority of the votes cast at the meeting and therefore did not pass.