Richard T. Hume
Director at ALL
Board
About Richard T. Hume
Independent director of The Allstate Corporation since 2020 (4 years of tenure), age 65. Former CEO and director of TD SYNNEX Corporation; previously COO of Tech Data Corporation and General Manager/COO, Global Technology Services at IBM. Attended 100% of Board/committee meetings in 2024 and currently serves on the Compensation and Human Capital Committee and the Risk and Return Committee .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| TD SYNNEX Corporation | Former CEO and Director | Not disclosed in proxy | Led innovative strategy/transformative growth; comprehensive compensation and succession experience |
| Tech Data Corporation | Former COO | Not disclosed in proxy | Strategic direction across Americas/Europe/APAC; operational leadership |
| IBM (Global Technology Services) | Former General Manager and COO | Not disclosed in proxy | Oversaw global technology services; risk evaluation/management expertise |
External Roles
| Organization | Role | Tenure | Committee Positions/Impact |
|---|---|---|---|
| TD SYNNEX Corporation | Director | 2021–Present | Board-level oversight of global IT distribution/solutions |
Board Governance
- Committee memberships: Compensation and Human Capital Committee (member); Risk and Return Committee (member) .
- Committee activity (2024): Compensation and Human Capital (8 meetings), focus on compensation program, succession/human capital; independent consultant selection . Risk and Return (6 meetings), focus on ERRM oversight, catastrophe/reinsurance, AI risk governance, enterprise resilience .
- Independence: Independent; 12 of 13 director nominees are independent and all committees (except Executive) are composed of independent directors .
- Attendance and engagement: 100% attendance; Board/committees hold executive sessions of independent directors at every meeting .
- Years of service: 4 years as of the proxy date .
- Say-on-Pay signal: 86% approval at 2024 Annual Meeting, indicating investor support for compensation oversight; the Compensation Committee considered shareholder feedback in program design .
Fixed Compensation
| Component | 2024 Amount | Notes |
|---|---|---|
| Annual cash retainer | $125,000 | Paid quarterly; no meeting fees; may be elected in stock; eligible for deferral into plan accounts |
| Committee chair/lead director fees | $0 | Hume did not hold chair/lead roles in 2024 |
| 2025 retainer changes (approved) | Cash: $135,000; Equity: $190,000 | Board approved increases beginning in 2025 based on Pay Governance benchmarking |
Performance Compensation
| Equity Type | 2024 Grant Detail | Vesting/Conversion | Other Features |
|---|---|---|---|
| RSUs (annual, fixed-value) | Grant date June 1; grant-date fair value $175,058 | Convert into common stock on earlier of third anniversary of grant or termination of Board service; post-2016 awards convertible on earlier of 3-year anniversary or termination, with optional deferral up to 10 years | Dividend equivalent rights payable with regular cash dividends |
| Performance-based metrics | None disclosed/applicable to director equity | Director equity is fixed-value, time-based RSUs; no PSU/option performance metrics for directors |
Other Directorships & Interlocks
| Company | Role | Overlap/Interlock | Conflict Review |
|---|---|---|---|
| TD SYNNEX Corporation | Director | No disclosed customer/supplier interlock with Allstate | No related person transactions identified since the beginning of 2024 |
Expertise & Qualifications
- Risk Management: Deep experience through business transformations and major acquisitions in leading technology companies .
- Accounting and Finance: Oversaw financial and accounting operations in large technology organizations .
- Technology/Cybersecurity: Senior leadership at IBM; CEO oversight at TD SYNNEX of technological advancement and transformative growth .
- Global Perspective: Operational leadership across Americas, Europe, and APAC .
- Succession/Human Capital: Significant experience in succession planning and talent management .
- Innovation/Customer Focus: Oversight of innovative strategy and transformative growth .
Equity Ownership
| As of March 1, 2025 | Shares Owned | Options Exercisable (≤ Apr 30, 2025) | RSUs (convertible within 60 days) | Total Stock-Based Ownership | % of Class | Pledged as Collateral |
|---|---|---|---|---|---|---|
| Richard T. Hume | 2,609 | 0 | 3,948 | 6,557 | <1% | None pledged |
| Ownership Alignment | Requirement | Status | Multiple of Cash Retainer |
|---|---|---|---|
| Director stock ownership guidelines | 6× annual cash retainer within 5 years; shares owned personally and unvested RSUs count | Hume has met the guideline | 10.1× (including shares held outright) |
Policies on hedging/pledging prohibit directors and officers from speculative or hedging transactions and pledging securities, unless an exception is granted; no pledging by Hume as of March 1, 2025 .
Insider Trades
| Date | Filing | Security | Quantity/Value | Key Terms |
|---|---|---|---|---|
| June 1, 2024 (filed June 4, 2024) | Form 4 | RSUs under 2017 Non-Employee Director Plan | 1,045 RSUs (computed: $175,000 ÷ $167.52 closing price; rounded up) | Convert on earlier of 3 years or termination; dividend equivalents |
| June 1, 2025 (filed June 3, 2025) | Form 4 | RSUs under 2017 Non-Employee Director Plan | Not disclosed in proxy; see filing | Expected fixed-value annual director RSUs; conversion per plan |
Governance Assessment
- Board effectiveness: Hume’s 100% attendance and service on two key committees (Compensation and Human Capital; Risk and Return) support strong oversight of executive pay, succession planning, and enterprise risk, including AI governance and catastrophe exposure .
- Independence and conflicts: Independent status; no related party transactions since 2024; company prohibits hedging/pledging, and none of his shares are pledged—reduces conflict risk and aligns with governance best practices .
- Ownership alignment: Meets stock ownership guideline with a 10.1× multiple of cash retainer and holds 2,609 shares plus 3,948 RSUs—solid “skin in the game” for a non-employee director .
- Compensation oversight signal: 86% Say-on-Pay approval in 2024 and continued shareholder engagement indicate investor confidence in compensation governance; Hume is part of the committee that reviewed CD&A and issued the Compensation Committee Report .
RED FLAGS: None disclosed—no related party transactions, no pledging, full attendance, independent committee composition .