Siddharth N. (Bobby) Mehta
Director at ALL
Board
About Siddharth N. (Bobby) Mehta
Independent director at The Allstate Corporation; age 67; director since 2014 (11 years). Former President & CEO of TransUnion; former CEO of HSBC North America Holdings Inc. and HSBC Finance Corporation. Current public company boards: Chair of the Board at Jones Lang LaSalle (JLL) and director at Northern Trust Corporation. Audit Committee financial expert; 100% attendance at Board/committee meetings; the Board has affirmatively determined he is independent under NYSE and Allstate standards.
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| TransUnion | President & CEO | Not disclosed | Led human capital and succession; technology-driven growth and cybersecurity oversight; financial/accounting oversight |
| HSBC North America Holdings Inc. | CEO/Chairman | Not disclosed | Financial oversight; complex regulated business experience |
| HSBC Finance Corporation | CEO | Not disclosed | Financial oversight; risk management |
| Allstate Board | Former Chair, Risk & Return Committee | 2023 | Oversaw enterprise risk & return governance; reviewed ELFS climate scenarios |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Jones Lang LaSalle Incorporated (JLL) | Chair of the Board | 2019–present | Corporate governance leadership |
| Northern Trust Corporation | Director | 2019–present | Financial services oversight |
Board Governance
- Committee memberships: Audit Committee (member; designated Audit Committee financial expert) and Nominating, Governance & Social Responsibility Committee; former Chair of Risk & Return Committee (2023).
- Independence: Board determined all nominees other than CEO are independent under NYSE and Allstate Director Independence Standards.
- Attendance and engagement: Mehta had 100% attendance; directors hold executive sessions without management at every regular Board and committee meeting; 2024 group average attendance 100% (2023: 99%).
- Board service limits: Non-executive directors may serve on ≤4 other public company boards; active executives ≤2.
Fixed Compensation
| Component | 2024 Amount (USD) | Notes |
|---|---|---|
| Cash fees (retainers, chair fees prorated) | $142,500 | Served part-year as Risk & Return Committee Chair (Jan–May 2024). |
| Stock awards (RSUs grant date fair value) | $175,058 | Annual RSU grant valued at fixed $175,000, divided by June 1 closing price; 2024 closing price $167.52. |
| Total 2024 | $317,558 | Cash + RSUs. |
| 2025 standard cash retainer (all directors) | $135,000 | Approved increase from $125,000. |
| 2025 annual equity retainer (all directors) | $190,000 | Approved increase from $175,000. |
| RSU vesting/conversion terms | Not applicable numeric | RSUs granted on/after 6/1/2016 convert to common stock on earlier of 3rd anniversary of grant or termination of Board service; directors may defer conversion up to 10 years. |
Performance Compensation
- Non-employee director compensation is structured as cash retainers plus fixed-value annual RSUs; no performance-metric-based director equity awards are disclosed.
Other Directorships & Interlocks
| Company | Role | Potential Interlock Considerations |
|---|---|---|
| JLL | Chair of the Board | Real estate services; Allstate manages a large investment portfolio—no related person transactions identified since the beginning of 2024. |
| Northern Trust | Director | Banking/asset services; conflicts are screened, and independence standards include categorical safe harbors; Board affirmed independence. |
- Related-party transactions: None identified since the beginning of 2024 under the committee’s written policy.
- Independence standards include categorical relationships that do not impair independence (Appendix B).
Expertise & Qualifications
- Financial services leadership (TransUnion/HSBC), risk management, accounting/finance oversight, technology/cybersecurity; complex, highly regulated businesses; succession and human capital management.
- Audit Committee financial expert under SEC rules.
Equity Ownership
| Metric | Value | Notes |
|---|---|---|
| Common shares beneficially owned | 5,964 | As of March 1, 2025; none pledged. |
| RSUs convertible within 60 days | 11,267 | As if retired on March 1, 2025. |
| Total stock-based ownership (shares + convertible RSUs) | 17,231 | Less than 1% of class. |
| Outstanding RSUs (12/31/24) | 13,492 | Valued at $2,601,123 at $192.79 close. |
| Director stock ownership guideline | 6× cash retainer within 5 years; unvested RSUs count | All directors met the guideline except Turner (joined 2023) and Morris (joined 2024). |
| Hedging/pledging policy | Hedging/pledging of Allstate securities is prohibited (compensation governance best practices) | None of Mehta’s shares were pledged as of March 1, 2025. |
Governance Assessment
- Strengths: Long-tenured financial services CEO; Audit Committee financial expert; sits on Audit and Nominating committees; prior chair of Risk & Return—strong risk oversight credentials; 100% attendance; independence affirmed; meaningful equity alignment via RSUs and compliance with ownership guidelines.
- Compensation alignment: Director program balances cash with fixed-value RSUs; 2025 retainer increases reflect peer benchmarking by independent consultant; overall structure supports alignment without performance gaming.
- Conflicts/related party: No related person transactions; independence standards and screening process in place; nonetheless, ongoing monitoring advisable given external board roles in financial services and real estate.
- RED FLAGS: None disclosed—no pledging, no related-party transactions, full attendance.