TORONTO, Sept. 1, 2015 /CNW/ - TD Bank Group (TD) announced today that Tim Hockey, Group Head, Canadian Banking and Wealth Management, TD Bank Group, and President and CEO, TD Canada Trust, will exercise 28,812 options for TD common shares. Mr. Hockey intends to donate a portion of the shares he acquires to charity.
These options were granted to Mr. Hockey in December 2008 and will expire in December 2015. As reported in TD's proxy circular, Mr. Hockey has a share ownership requirement of six times his base salary which he exceeds by a wide margin.
As set out under its policies, TD is required to announce by way of press release Mr. Hockey's intention to conduct any transaction in TD stock at least five days in advance of the date of the transaction.
The donation is being directed to charities with which Mr. Hockey is personally involved.
About TD Bank Group
The Toronto-Dominion Bank and its subsidiaries are collectively known as TD Bank Group ("TD" or the "Bank"). TD is the seventh largest bank in North America by branches and serves more than 24 million customers in three key businesses operating in a number of locations in financial centres around the globe: Canadian Retail, including TD Canada Trust, TD Auto Finance Canada, TD Wealth (Canada), TD Direct Investing, and TD Insurance; U.S. Retail, including TD Bank, America's Most Convenient Bank, TD Auto Finance U.S., TD Wealth (U.S.), and an investment in TD Ameritrade; and Wholesale Banking, including TD Securities. TD also ranks among the world's leading online financial services firms, with approximately 10 million active online and mobile customers. TD had CDN$1.1 trillion in assets on July 31, 2015. The Toronto-Dominion Bank trades under the symbol "TD" on the Toronto and New York Stock Exchanges.
SOURCE TD Investor Relations
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Ali Duncan Martin
TD Bank Group