Victor Dodig, President and CEO of CIBC speaks during the annual meeting of shareholders in Ottawa on April 6, 2017. The chief executive of Canadian Imperial Bank Of Commerce saw his total compensation last year decline compared with 2018. In a regulatory filing ahead of the bank's annual meeting, CIBC says Victor Dodig's total compensation for 2019 was $9 million, down from $10 million in 2018. THE CANADIAN PRESS/Justin Tang
March 18, 2020 - 11:56 AM
TORONTO - The chief executive of Canadian Imperial Bank Of Commerce saw his total compensation last year decline compared with 2018.
In a regulatory filing ahead of the bank's annual meeting, CIBC says Victor Dodig's total compensation for 2019 was $9 million, down from $10 million in 2018.
The bank says Dodig earned a salary of $1 million, $4.8 million in share-based awards, $1.2 million in option-based awards, a cash bonus of $1.5 million, $505,000 in pension value and $2,250 in all other compensation last year.
The package compared with a salary of $1 million, $5.1 million in share-based awards, nearly $1.3 million in option-based awards, a cash bonus of $2.1 million, $520,000 in pension value and $2,250 in all other compensation in 2018.
The bank's management proxy circular said Dodig led CIBC in achieving solid financial results in a challenging operating environment.
CIBC earned $5.12 billion or $11.19 per diluted share for its financial year ended Oct. 31, 2019, compared with a profit of $5.28 billion or $11.65 per diluted share in the same period a year earlier.
This report by The Canadian Press was first published March 18, 2020.
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News from © The Canadian Press, 2020