Elizabeth A. Brady
Executive Vice President, Chief Marketing, Customer and Communications Officer at ALL
Executive
About Elizabeth A. Brady
Executive Vice President, Chief Marketing, Customer and Communications Officer at Allstate Insurance Company; member of Allstate’s Operating Committee. Prior roles include SVP, Global Brand Management at Kohler Co., and senior leadership positions at Publicis and BBDO; BA in Journalism (University of Kansas) and MBA (Maryville University); age 60 and in current role since January 2020 after joining Allstate in August 2018 . Company performance context: 2024 total revenues were $64.1B, +12.3% YoY; net income applicable to common shareholders was $4.6B after a loss in 2023, and the 2022–2024 PSA cycle vested at 62.2% with Relative TSR at the 91st percentile .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Kohler Co. | SVP, Global Brand Management | 2013–2018 | Led marketing and communications across four businesses and 33 global brands |
| Publicis | Senior leadership positions | Not disclosed | Led customer-led brand experiences and strategies for major brands |
| BBDO | Senior leadership positions | Not disclosed | Led innovative retail marketing and creative solutions |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| The Allstate Foundation | Trustee | Not disclosed | Oversees corporate philanthropy initiatives |
| Marwen (Chicago nonprofit) | Board Member | Not disclosed | Supports visual arts programs in under-resourced communities |
| Ad Council | Board Member | Not disclosed | Guides national public service communications |
Fixed Compensation
- Allstate targets executive compensation at the 50th percentile of peers; a majority of long-term incentives are performance-based .
- 2024 say‑on‑pay support was >86% of votes cast, signaling shareholder alignment with program design .
- Committee uses independent consultant (Pay Governance) for benchmarking and program design; no employment agreements or guaranteed bonuses for executive officers .
Performance Compensation
PSA Metrics and Targets
| Performance Cycle | Metric | Weighting | Threshold | Target | Maximum |
|---|---|---|---|---|---|
| 2023–2025 | Performance Net Income ROE | 50% | 10.0% | 16.0% | 18.0% |
| 2023–2025 | Relative TSR (vs. custom peer group) | 30% | <25th percentile | 55th percentile | 90th percentile |
| 2023–2025 | Transformative Growth | 10% | ND | ND | ND |
| 2023–2025 | Inclusive Diversity & Equity | 10% | ND | ND | ND |
| 2024–2026 | Performance Net Income ROE | 50% | 9.0% | 16.0% | 20.0% |
| 2024–2026 | Relative TSR (vs. custom peer group) | 40% | <25th percentile | 55th percentile | 90th percentile |
| 2024–2026 | Inclusive Diversity & Equity | 10% | ND | ND | ND |
- 2025–2027 PSAs: metrics revised to focus solely on Average Performance Net Income ROE (60%) and Relative TSR (40%) .
PSA Actual Results (Last Completed Cycle: 2022–2024)
| Metric | Threshold | Target | Maximum | Actual | Payout Context |
|---|---|---|---|---|---|
| Performance Net Income ROE (50%) | 10.0% | 16.0% | 18.0% | 9.8% | Below target; limited vesting contribution |
| Relative TSR (30%) | <25th pct | 55th pct | 90th pct | 91st pct | Max contribution from TSR |
| Items in Force Growth – Personal P&L (10%) | 0.0% | 2.0% | 4.0% | −0.6% | Below target |
| Items in Force Growth – All Other (10%) | 0.0% | 3.5% | 7.0% | 3.8% | Above target |
| PSA Vesting (cycle total) | — | 100% | 200% | 62.2% | Shares vested as % of target |
Annual Cash Incentive Funding (Corporate)
| Year | Corporate Pool Funding vs Target |
|---|---|
| 2024 | 188.1% of target |
- Positive net income is required for PSAs to vest above target on Average Performance Net Income ROE; cumulative net loss caps vesting at target regardless of ROE outcome .
- Annual cash incentive pool is funded based on Market-Facing Businesses and Investments (70%) and Performance Net Income (30%), with interpolated payouts 0–200% of target .
Equity Ownership & Alignment
| Policy/Metric | Requirement/Status |
|---|---|
| Executive stock ownership guideline | 4x base salary for senior executives; CEO at 8x |
| Counting toward requirement | Personally/beneficially owned shares and shares in Allstate 401(k); excludes unexercised options and unvested PSAs |
| Hold-until-compliant | Must hold 75% of net shares from vesting until guideline met |
| Hedging/Pledging | Prohibited for officers, directors, and employees; senior executives/directors may not pledge securities or hold in margin accounts absent Board leadership exception |
| Pledging snapshot | As of March 1, 2025, none of the reported shares were pledged by directors and executive officers |
| Beneficial ownership snapshot | Directors and executive officers as a group: ~1.7% of common stock outstanding as of March 1, 2025 |
Employment Terms
- Change-in-Control (CIC) Plan: Double-trigger severance equals two times base salary plus target annual incentive; LTI awards vest on accelerated basis upon qualifying termination following a CIC; no excise tax gross‑ups or cash pension enhancements .
- Deferred Compensation: Eligible employees (compensation >$345,000 in 2024) may defer up to 80% of salary and up to 100% of annual cash incentive above IRS caps; no company match or guaranteed return .
- Non‑Solicit: Applies during employment and for one year after termination for awards granted after May 19, 2009; violations may trigger cancellation and clawback of awards/realized gains .
- Non‑Compete: One‑year post‑termination non‑compete for equity awards granted on/after May 21, 2013; violations may result in award cancellation .
- Clawback: Mandatory Dodd‑Frank recoupment for restatements; discretionary clawback adopted July 2024 for improper conduct with material adverse impact; applies to cash/equity, performance/time‑based awards .
- CIC Termination Triggers: Termination by Allstate without cause or by executive for good reason within two years of CIC; definition of “cause” and “good reason” provided (e.g., material reduction in compensation/authority, job location change) .
Investment Implications
- Alignment and retention: Strong pay-for-performance architecture with majority of LTI in PSAs, rigorous ownership guidelines (4x salary), and hold‑until‑compliant policy reduce near‑term selling pressure; hedging/pledging prohibitions further align interests .
- Payout sensitivity: PSA outcomes are balanced across profitability (Average Performance Net Income ROE), relative TSR, and strategic measures; 2022–2024 vesting at 62.2% shows compensation sensitivity to underwriting/profitability execution despite strong TSR .
- CIC economics: Double-trigger severance and accelerated vesting, without excise tax gross‑ups, suggest competitive but shareholder‑friendly terms; Brady’s individual severance multiple would follow plan formulas given executive officer status .
- Execution footprint: Brady leads enterprise marketing, customer experience, communications, and innovation; partnerships like the Big 12 Allstate Championship Series reinforce brand engagement and customer connectivity, supporting growth and retention objectives .
Note: Allstate’s proxy does not disclose individual base salary, target bonus, or specific equity grant counts for Elizabeth A. Brady (not a named executive officer in 2024–2025). Compensation, ownership, and employment terms above reflect policies applicable to executive officers.