TD Bank Group chief executive’s total compensation down in 2019 from 2018

TORONTO – The chief executive of TD Bank Group saw his total compensation for 2019 fall compared with 2018 when his received a special one-time stock option award of $1.9 million.

According to regulatory filings ahead of the bank’s annual meeting, TD says Bharat Masrani earned total compensation valued at $12.6 million in 2019.

The pay packet included $1.4 million in salary, nearly $5.5 million in share-based awards, nearly $2.7 million in option-based awards, a $2-million cash bonus, $907,000 in pension value and $118,000 in other compensation.

That compared with total compensation valued at $15.3 million in 2018 when Masrani earned $1.3 million in salary, nearly $5.6 million in share-based awards, $4.6 million in option-based awards, a $2-million cash bonus, nearly $1.6 million in pension value and $89,000 in other compensation.

Under Masrani’s leadership, TD says the bank delivered “modest” earnings and earnings per share growth though a challenging operating environment.

TD earned $11.7 billion in its 2019 financial year, up from $11.3 billion the previous year.

This report by The Canadian Press was first published March 2, 2020.

Companies in this story: (TSX:TD)