Most of TD’s equity is issued in the form of this equity vehicle.
What are Restricted Share Units (RSUs)?
100
In this termination scenario, the plan participant is entitled to 100% of their outstanding equity, except for any unvested VSUs
What is Retirement?
100
Stock Options are typically only granted to this executive level and higher
What is SVP?
100
The sole regulator of Canadian banks
What is OSFI (The Office of the Superintendent of Financial Institutions)?
100
For all of TD’s share unit awards, equivalents to these are accrued and re-invested in additional share units.
What are dividends?
200
At maturity, the number of units of this equity vehicle can be adjusted by +/- 20% depending on TD’s TSR relative to TD’s peer group average TSR.
What are Performance Share Units (PSUs)?
200
In the event of unusual circumstances, the Human Resources Committee of the Board, in its sole discretion, may reduce the redemption value of any equity award (except for DSUs and VSUs), upon its Maturity by up to this percentage
What is 100%?
200
It is common market practice for stock options to have a term of these many years (term being the period from grant to expiry)
What is 10?
200
The main governing body of the Federal Reserve System, responsible for overseeing the Federal Reserve Banks and helping implement monetary policy.
What is the Federal Reserve Board (FRB)?
200
This factor is used to convert the compensation value at grant to the number of options granted
What is EVF (economic value factor)?
300
Executives may elect to defer a percentage of their cash incentive into this equity vehicle.
What are Deferred Share Units (DSUs)?
300
2 years after retirement from TD, Ed Clark is asked by CIBC to work in a “Special Advisor” capacity from time to time. If Ed accepts this role, he would be violating this conduct provision, resulting in forfeiture of his outstanding equity.
What is non-competition?
300
While TD stock options cliff-vest, in the market the most prevalent type of vesting applied to options is this
What is gradual vesting?
300
This international body was established to formulate and oversee the implementation of regulatory, supervisory and other financial sector policies and act as a convening forum for International authorities and regulators responsible for financial stability in significant financial centers
What is the Financial Stability Board (FSB)?
300
This Compliance Policy restricts participants of the DSU, VSU, and/or stock option plans from redeeming share units or exercising options during specified black out periods.
What is the TD Trading Windows Policy?
400
Due to their highly leveraged nature, the Federal Reserve Board would prefer that this equity vehicle be eliminated from executive compensation.
What are stock options?
400
This provision is designed to prevent plan participants from influencing any employee of the Bank to accept or seek employment from another employer and will result in forfeiture of outstanding equity if violated.
What is non-solicitation?
400
In this termination scenario, TD employees are entitled to a pro-rata share of their unvested share unit awards, while in the market, it is common for the employee to be entitled to 100%.
What is Termination Without Cause?
400
In accordance with regulatory guidance, TD imposes a cap on stock options of up to ___ percent of variable compensation for U.S. plan participants
What is 10%?
400
If the Maturity date of an award falls on a non-trading day in Toronto, the Redemption Value of the award will be based on the the closing price quoted on the TSX trading day immediately ______ the Maturity Date.
What is preceding?
500
Unvested units of this equity vehicle are forfeited if an individual leaves the bank for any reason including retirement
What are Vesting Share Units (VSUs)?
500
In the event of Resignation, the employee will forfeit all unvested equity as of the termination date with the exception of this equity vehicle
What are Deferred Share Units (DSUs)?
500
While TD determines its PSU performance factor based solely on 3-year relative TSR, it is very common in the market to also include this financial measure
What is Return on Equity (ROE)?
500
This section of the Internal Revenue Code regulates the treatment for federal income tax purposes in the United States of nonqualified deferred compensation
What is 409A?
500
Assuming an EVF of 22%, for any award of equal value, the ratio of stock options to performance share units granted is approximately ___ : 1. (rounded to whole number)