This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

TD Executive To Sell Shares, Exercise Options And Donate Shares To Charity

TORONTO, Nov. 30, 2012 /CNW/ - TD Bank Group (TD) announced today that Tim Hockey, Group Head, Canadian Banking, Auto Finance, and Credit Cards, TD Bank Group and President & CEO, TD Canada Trust, intends to exercise up to 1,800 options for TD common shares and to sell 20,412 TD shares he currently owns. Mr. Hockey also intends to donate a portion of his shares to charity.

The options Mr. Hockey intends to exercise represent less than one per cent of his outstanding options. 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. The options were granted to Mr. Hockey in December 2008 as part of his performance-based compensation. These options will expire in December 2015.

Under TD's policies, TD must pre-announce by way of press release Mr. Hockey's intention to conduct any transaction in TD stock, including the exercise of stock options, at least five business days in advance of the date of the transaction. Mr. Hockey has other outstanding options that are approaching expiry in the coming years, and his intention to exercise these options before they expire will also be pre-disclosed in accordance with TD's policies.

The donation is being directed to charities in 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). TD is the sixth largest bank in North America by branches and serves approximately 22 million customers in four key businesses operating in a number of locations in key financial centres around the globe: Canadian Personal and Commercial Banking, including TD Canada Trust and TD Auto Finance Canada; Wealth and Insurance, including TD Waterhouse, an investment in TD Ameritrade, and TD Insurance; U.S. Personal and Commercial Banking, including TD Bank, America's Most Convenient Bank, and TD Auto Finance U.S.; and Wholesale Banking, including TD Securities. TD also ranks among the world's leading online financial services firms, with approximately 8.5 million online customers. TD had CDN$806 billion in assets on July 31, 2012.The Toronto-Dominion Bank trades under the symbol "TD" on the Toronto and New York Stock Exchanges.

SOURCE TD Bank Group

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 17,826.30 -279.47 -1.54%
S&P 500 2,081.18 -23.81 -1.13%
NASDAQ 4,931.8150 -75.9760 -1.52%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs