The Comptroller of the State of New York, 59 Maiden Lane – 30th Floor, New York, NY 10038, beneficial
owner of no less than 1,354,824 shares of Allstate common stock as of December 5, 2016, and The
International Brotherhood of Teamsters, 25 Louisiana Avenue, NW, Washington, D.C. 20001, beneficial
owners of no less than 64 shares of Allstate common stock as of December 7, 2016, intend to propose
the following resolution at the annual meeting.
Resolved, that the shareholders of Allstate Corp. (“Allstate” or “Company”) hereby request that the
Company provide a report, updated semiannually, disclosing the Company’s:
||Policies and procedures for making, with corporate funds or assets, contributions and expenditures
(direct or indirect) to (a) participate or intervene in any political campaign on behalf of (or in opposition
to) any candidate for public office, or (b) influence the general public, or any segment thereof, with
respect to an election or referendum.
||Monetary and non-monetary contributions and expenditures (direct and indirect) used in the manner
described in section 1 above, including:
||The identity of the recipient as well as the amount paid to each; and
||The title(s) of the person(s) in the Company responsible for decision-making.
The report shall be presented to the board of directors or relevant board committee and posted on the
Company’s website within 12 months from the date of the annual meeting.
As long-term shareholders of Allstate, we support transparency and accountability in corporate
spending on political activities. These include any activities considered intervention in any political
campaign under the Internal Revenue Code, such as direct and indirect contributions to political
candidates, parties, organizations, or ballot measures; direct independent expenditures; or
electioneering communications on behalf of federal, state, or local candidates.
Disclosure is in the best interest of the company and its shareholders. The Supreme Court affirmed
this its Citizens United decision: “[D]isclosure permits citizens and shareholders to react to the speech
of corporate entities in a proper way. This transparency enables the electorate to make informed
decisions and give proper weight to different speakers and messages.” Gaps in transparency and
accountability may expose the company to reputational and business risks that could threaten longterm
Publicly available records show that Allstate directly or indirectly contributed over $10.4 million in
corporate funds since the 2004 election cycle. (CQ: http://moneyline.cq.com and National Institute on
Money in State Politics: http://www.followthemoney.org)
We acknowledge that Allstate publicly discloses some information on its political spending. However,
such data is presented in the aggregate and does not identify specific recipients, making it difficult
for shareholders to get a complete picture of the Company’s political spending. This proposal asks the
Company to provide itemized disclosure of all of its political expenditures, including payments to trade
associations and other tax-exempt organizations.
This would bring our Company in line with a growing number of leading companies, including AFLAC
Inc., Bank of America Corp., and Travelers Companies Inc., that support political disclosure and
accountability and present this information on their websites.
The Company’s Board and its shareholders need comprehensive disclosure to be able to fully evaluate
the political use of corporate assets. We urge your support for this critical governance reform.