Share-Based Awards (1)
Stock Option-Based Awards
Number of Securities Underlying Unexercised Options (#)
Value of Unexercised In- The-Money Stock Options (2) ($)
Market or Payout Value of Share-Based Awards that have not Vested (3) ($)
Stock Option Exercise Price ($)
Stock Option Expiration Date
Number of Shares or Units of Shares that have not Vested (#)
Grant Date
15-Mar-2019
8,872
29.433
14-Mar-2026
-
-
-
13-Dec-2019
9,038
31.927
12-Dec-2026
-
-
-
14-Dec-2020
8,110
29.067
13-Dec-2027
-
-
-
13-Dec-2021
6,949
37.033
12-Dec-2028
-
-
-
Jeffrey I.L. Wright Group Head, CS&SB
13-Dec-2021
-
-
-
3,482
95,688
06-Jun-2022
-
-
-
2,059
56,589
12-Dec-2022
20,325
24.234
11-Dec-2029
65,975
-
-
12-Dec-2022
-
-
-
11,075
304,354
Totals
53,294
65,975
16,616
456,631
(1) As at October 31, 2023, there are no vested share-based awards that have not been paid out or distributed, other than PSUs granted in fiscal 2021 which vests on October 31, 2023 and pays out in December 2023 , and Ms. Parra’s one -time RSU award which was granted on December 13, 2021 and which vested on December 13, 2023 . (2) The market value of unexercised in-the-money stock options is calculated based on the difference between $27.48, the closing price of a common share on the TSX on October 31, 2023, and the exercise price of the stock option. (3) The market value of share-based awards that have not vested is calculated by multiplying the number of RSUs credited to the NEOs by the October 31, 2023 common share closing price on the TSX of $27.48. PSUs are valued based on a 100% performance multiplier and using the closing price on the TSX on October 31, 2023 of $27.48 per common share. No assumptions are made for future dividends, however, notional dividends accrue to the RSU holder and are converted on the dividend date into additional RSUs that vest in accordance with the respective grant. INCENTIVE PLAN AWARDS – VALUE VESTED OR EARNED DURING THE YEAR
The value of equity-based awards that vested and non-equity incentive plan compensation earned by NEOs for the year ending October 31, 2023 follow:
Column A Stock Option-Based Awards Value Vested During the Year (1) ($)
Column B Share-Based Awards Value Vested During the Year (2) ($)
Non-Equity Incentive Plan Compensation Value Earned During the Year ($)
Christopher H. Fowler President and CEO
-
1,032,968
648,000
R. Matthew Rudd CFO
-
248,933
253,600
Stephen H.E. Murphy Group Head, CPW M. Carolina Parra CRO Jeffrey I.L. Wright Group Head, CS&SB
-
399,760
345,400
-
68,342
226,900
-
176,880
214,000
(1) These amounts represent the value the NEOs would have received had they exercised stock options that vested during fiscal 2023 on the date the stock options vested. The value of a vested stock option is calculated as the difference between the closing price of a common share on the TSX on the vesting date and the exercise price of that stock option. Stock options that vested on dates where the closing price on the TSX of a common share of CWB was less than the stock option exercise price have been assigned a value of zero. (2) CWB's share-based awards consist of RSUs and PSUs. The value of RSUs that vested in fiscal 2023 is calculated as the number of RSUs that vested multiplied by the average of the weighted average trading price of CWB common shares for the vesting date and the four business days preceding the vesting date (the “vesting date value”). The value of PSUs t hat vested in fiscal 2023 is calculated as the number of PSUs that vested multiplied by the vesting date value, multiplied by the performance multiplier as set out on page 45 to arrive at the award payout.
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