TORONTO, March 9, 2016 /CNW/ - CIBC announced today that Victor Dodig, President and CEO, will exercise 13,689 options issued on Dec 5, 2011, with an exercise price of $71.56. Mr. Dodig intends to donate the proceeds, net of taxes and fees, to the United Way of Toronto.
Following the exercising of these options, Mr. Dodig will continue to exceed CIBC's share ownership guidelines as outlined in CIBC's proxy circular.
CIBC is a leading Canadian-based global financial institution with 11 million personal banking and business clients. Through our three major business units - Retail and Business Banking, Wealth Management and Capital Markets - CIBC offers a full range of products and services through its comprehensive electronic banking network, banking centres and offices across Canada with offices in the United States and around the world. You can find other news releases and information about CIBC in our Media Centre on our corporate website at www.cibc.com.
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