2018 Guide to Effective Proxies

6 TH EDITION | GUIDE TO EFFECTIVE PROXIES 172 UNITED RENTALS, INC. UNUM GROUP WELLS FARGO WEYERHAEUSER COMPANY Nineof the nomineesfor electionat the 2018annualmeeting are currently servingon the Board. Each person nominatedhas agreedto continueto serve if elected. If any nomineebecomes unavailablefor any reason to serve as a director at the time of the annualmeeting, then the shares represented by eachproxy may be voted for such other person as may be determined by the holdersof such proxy. TheBoardunanimouslyrecommendsa vote FOR the election of eachof Drs. Britell and Papastavrou,Mses. Kelly andMartore andMessrs. Alvarez, Bruno, Griffin, Kneeland,Passerini, Roof andSinghto hold office until the 2019annualmeeting of stockholders(designated as Proposal1) anduntil suchdirector’s successoris elected andqualified. Information ConcerningDirectors andBoardConsiderationof Director Experienceand Qualifications In additionto the independencematters describedunder “Corporate Governance Matters – Director Independence”,the Boardandthe N&CGCommittee consideredthe specificexperience, qualifications,attributes andskillsof the director nomineesnamed hereinandconcludedthat basedon the aforementionedfactors, andincludingeachdirector’s demonstrated businessacumen, abilityto exercisesoundjudgment, integrity andcollegiality,such directors shouldserve as directors of the Company. Thefollowingis a summary of our director nominees’aggregateprioritizedcompetencies. Thelist of prioritizedcompetenciesis reviewedat least annuallyby the N&CGCommittee andthe Boardandupdated, whennecessary, to reflect any changesinthe Company’sstrategy. Number of directors possessing each competency PublicCompanyCEO: current or recently retiredCEO of a public company of scale 2 P&LOwner: president orexecutivewithP&L ownership in a company of scalewith experience and a strong ability to think strategically and critically assess and act on opportunities and threats 8 InternationalExpertise: experience leading (asaP&L owner) a global business and understanding the challenges of enteringnewmarkets and navigating localand regional geopolitical sensitivities 7 FinancialAcumen: current or retiredCFO, banker or public company qualified financial expert or recently retired audit partner from a big four accounting firmwith experience in accounting, reporting, capital allocation, financialmarkets,M&A andpost-merger integration 6 Digital: executivewith amillennial/next generation “futurist”mindsetaswell as an understanding of socialmedia,e-commerce and leveraging technology platforms for business innovationand transformation 3 Sales&Marketing: chiefmarketing officer or other senior executivewith experience leading andexecuting sales&marketing strategies in a business-to-business environmentwith an industrial business,with preference for those that havedeveloped digital strategies 4 Rental Industry: current or retired executive from the equipment rental industry (ormajor customer,original equipmentmanufacturer, or related industry)with a strong understanding of its operations and ideally deep insight into the non-residential constructionbusiness 2 Capital Intensive Industry: experience as an executive (preference for aP&L owner) working in a capital intensive industrywhere utilization of capital equipment isa key business driver 7 Overall Diversity Diverse* NotDiverse 6 5 Ethnic Diversity NotEth.Diverse Eth.Diverse 3 Gender Diversity Male Female 8 3 Tenure 0-6 years 7-10 years > 10 years 5 4 2 Average Age 59 years 8 Independence Independent Non-Independent 1 10 * Diverserepresentsourfemaledirectorsandethnicallydiversedirectors. 14 Board Qualifications TheBoardstrivestomaintainindependenceofthoughtanddiverseprofessionalexperienceamongits membership.TheBoardandtheGovernanceCommitteelookfordirectorswhohavequalificationsand attributesinkeyareasrelevanttoUnum,andthatalignwithourbusinessstrategy.Thetablebelow summarizeswhythesequalificationsandattributesareimportanttoUnumandhowthecompositionofour Board,asawhole,meetstheseneeds. Qualifications andAttributes RelevancetoUnum Board Composition Accounting/Auditing Weoperateinacomplexfinancialandregulatoryenvironmentwith disclosurerequirements,detailedbusinessprocessesandinternalcontrols. BusinessOperations Wehavesignificantoperationsfocusedoncustomerservice,claims management,sales,marketingandvariousback-housefunctions. CapitalManagement Weallocatecapitalinvariouswaystorunouroperations,growourcore businessesandreturnvaluetoshareholders. CorporateGovernance Leadership Asapubliccompany,weexpecteffectiveoversightandtransparency,and ourstakeholdersdemandit. FinancialExpertise/ Literacy Ourbusinessinvolvescomplexfinancialtransactionsandreporting requirements. Independence Independentdirectorshavenomaterialrelationshipswithusandare essentialinprovidingunbiasedoversight. IndustryExperience Experienceintheinsuranceandfinancialservicesindustryprovidesa relevantunderstandingofourbusiness,strategy,andmarketplace dynamics. International Withglobaloperationsinseveralcountriesandprospectsforfurther expansion,internationalexperiencehelpsusunderstandopportunitiesand challenges. InvestmentMarkets Wemanagealargeandlong-terminvestmentportfoliotoupholdour promisestopaythefutureclaimsofourpolicyholders. PublicCompany ExecutiveExperience Experienceleadingalarge,widely-heldorganizationprovidespractical insightsonneedfortransparency,accountability,andintegrity. RecentPublicBoard Experience Wevalueindividualswhounderstandpubliccompanyreporting responsibilitiesandhaveexperiencewiththeissuescommonlyfacedby publiccompanies. Regulatory/Risk Management Acomplexregulatoryandriskenvironmentrequiresustodeveloppolicies andproceduresthateffectivelymanagecomplianceandrisk. Technology Werelyontechnologytomanagecustomerdata,deliverproductsand servicestothemarket,andpayclaims. CORPORATEGOVERNANCE 14 2018PROXYSTATEMENT ITEM 1. ELECTION OF DIRECTORS ITEM 1. ELECTION OF DIRECTORS The 11 persons identified below are nominated to be elected as directors at the 2018 annual meeting for one-year terms expiring at the 2019 annual meeting. All of the nominees were elected as directors by shareholders at the 2017 annual meeting for a one-year term expiring at the 2018 annual meeting. Unless a shareholder instructs otherwise on the proxy card, it is intended that the shares represented by properly executed proxies will be voted for the persons nominated by the board of directors. The board of directors anticipates that the listed nominees will be able to serve, but if at the time of the meeting any nominee is unable or unwilling to serve, the proxy holders may vote such shares at their discretion for a substitute nominee. The biography of each of the nominees below contains information regarding the individual’s service as a director, business experience, director positions held currently or at any time during the last five years, and information regarding their experiences, qualifications, attributes or skills considered by the Governance and Corporate Responsibility Committee and the board of directors to assess the nominee’s candidacy for nomination. DIRECTORS’ CORE COMPETENCIES 55% Significant Leadership Experience Six nominees have prior experience as a CEO or equivalent position for a large organization. 55% ManufacturingorCapital-IntensiveIndustry Six nominees have a business background in manufacturing or other capital-intensive industry. 45% Real Estate & Land Management Five nominees have experience in the real estate and land management business. 55% Government, Regulatory & Legal Six nominees have a government, regulatory or legal background. 73% Public Company Board Experience Eight nominees have experience serving on other public company boards. 73% Finance & Capital Markets Eight nominees have experience in finance and capital markets. 64% Timber & Forest Products Seven nominees have experience in the timber and forest products industry. 55% International Business Six nominees have experience in international business operations. The board of directors recommends that shareholders vote “FOR” the election of each of the following directors. 2018ANNUALMEETING&PROXYSTATEMENT 13 Corporate Governance CURRENT BOARD QUALIFICATIONS AND EXPERIENCE ThefollowingchartreflectsareasofqualificationsandexperiencethatourBoardviewsasimportantwhenevaluatingdirector nominees.TheGNCandourBoardbelievethateachdirectornomineebringstoourBoardhisorherownuniquebackgroundand rangeofexpertise,knowledge,andexperience,includingasaresultofhisorhervaluedserviceonourBoardandits committees,thatprovideourBoardasawholewithanappropriateanddiversemixofqualifications,skills,andattributes necessaryforourBoardtofulfillitsoversightresponsibilitytoourCompany’sshareholders.Additionalinformationonthe businessexperienceandotherskillsandqualificationsofeachofourdirectornomineesisincludedunder Item1–Electionof Directors .Eachdirectoralsocontributesotherimportantskills,expertise,experience,andpersonalattributestoourBoardthat arenotreflectedinthechartbelow. Tenure Qualifications and Experience FinancialServices Risk Experience AuditCommittee Financial Expert OtherPublicBoards Age Gender EthnicDiversity Financial Services Industry Accounting, Financial Reporting Risk Management Consumer, Marketing,Digital Global Perspective, International Legal Government, Public Policy, Regulatory CorporateGovernance, Management Succession Planning Human Capital Management Environmental, Social, andGovernance (ESG), Community Affairs Strategic Planning, BusinessDevelopment, BusinessOperations Information Security, Cybersecurity Technology Baker Clark Craver Duke James Morris Peetz Pujadas Quigley Sargent Sloan 1 F 64 0 1 M 69 9 2 M 62 1 2 M 66 4 1 M 66 0 0 F 65 3 1 F 55 0 1 M 69 9 Vautrinot 2 3 58 F 1 F 62 1 0 M 56 0 0 M 57 1 TOTALDIRECTORNOMINEESWITH THEPARTICULARQUALIFICATIONSAND EXPERIENCE (OUTOF12DIRECTORS) Financial Services Industry 6 3 8 5 11 4 4 8 3 10 7 2 Accounting, Financial Reporting Risk Management Human Capital Management Strategic Planning, Business Development, BusinessOperations Information Security, Cybersecurity, Technology Consumer, Marketing, Digital Corporate Governance, Management Succession Planning Environmental, Social, and Governance (ESG), Community Affairs Government, Public Policy, Regulatory Global Perspective International Legal AdditionalQualifications and Information Board Tenure andDiversity BakerChenClarkCraverDeanDukeHernandezJamesMorrisPeetzPeñaPujadasQuigleySargentSloanVautrinotQualificationsandExperienceFinancialServicesIndustryAccounting,FinancialReporting RiskManagement HumanCapitalManagementStrategicPlanning,BusinessDevelopment,BusinessOperationsInformationSecurity,CybersecurityTechnologyConsumer,Marketing,DigitalCorporateGovernance,ManagementSuccessionPlanningEnvironmental,Social,andGovernance(ESG),CommunityAffairsGovernment,PublicPolicy,RegulatoryGlobalPerspective,InternationalLegalAdditionalQualificationsandInformationFRBRiskExpertiseAuditCommitteeFinancialExpertOtherPublicBoards1211102111102202BoardTenureandDiversityTenure9110012315901604113Age69626466676562695562705666625758GenderMMFMMFMMFFMMMMMFAfrican-American/BlackAsian,Hawaiian,orPacificIslanderLatino/HispanicTOTALDIRECTORSWITH THEPARTICULARQUALIFICATIONSANDEXPERIENCE(OUTOF16DIRECTORS)638512551031264FinancialServicesIndustryAccounting,FinancialReportingRiskmanagementHumancapitalmanagementStrategicPlanning,BusinessDevelopment,BusinessOperationsInformationSecurity,Cybersecurity,TechnologyConsumer,Marketing,DigitalCorporateGovernance,ManagementSuccessionPlanningEnvironmental,Social,andGovernance(ESG),CommunityAffairsGovernment,PublicPolicy,RegulatoryGlobalPerspectiveInternationalLegal 24 WellsFargo&Company 2018ProxyStatement