NAMED EXECUTIVE OFFICER COMPENSATION SUMMARY COMPENSATION TABLE
The aggregate compensation paid or payable by CWB to the President and CEO, CFO, and the next three most highly compensated executive officers of CWB in fiscal 2022 follows:
Non-Equity Incentive Plan Compensation Annual Incentive Plans ($)
Share-Based Awards (1) ($)
Stock Option- Based Awards (2) ($)
Pension Value ($)
All Other Compensation (3) ($)
Total Compensation ($)
Salary ($)
Year
2022
815,000
870,000
290,000
689,300
-
202,805
2,867,105
Christopher H. Fowler President and CEO
2021
800,000
870,000
290,000
985,000
-
179,396
3,124,396
2020
796,183
870,000
290,000
607,200
-
180,101
2,743,484
2022
351,250
243,750
81,250
229,700
-
37,788
943,738
R. Matthew Rudd CFO
2021
316,166
207,188
69,063
260,600
-
30,733
883,750
2020
288,170
128,313
42,711
110,000
-
28,710
597,904
2022
457,375
336,675
112,225
309,500
-
96,035
1,311,810
Stephen H.E. Murphy Group Head, CPW
2021
448,900
336,675
112,225
444,000
-
81,516
1,423,316
2020
442,101
336,675
112,225
272,500
-
82,163
1,245,664
2022
378,675
278,775
92,925
237,400
-
51,553
1,039,328
Carolyn J. Graham SEVP
2021
371,700
278,775
92,925
349,400
-
49,291
1,142,091
2020
368,750
278,775
92,925
211,400
-
49,661
1,001,511
2022
346,438
570,000
290,000
232,400
-
851,512
2,290,350
M. Carolina Parra CRO
2021
-
-
-
-
-
-
-
2020 - (1) Share-based awards for 2020 are comprised of RSUs and PSUs, and for 2021 and 2022 are comprised of PSUs only, with the exception of Ms. Parra, who received a one-time RSU award as per her employment agreement. The grant price of each RSU and PSU is the weighted average price of a CWB common share on the date on which the RSU or PSU was granted and the four trading days preceding the grant date. Details on the RSUs and PSUs granted to the NEOs during the last three fiscal years follow: Fiscal Year Grant Date RSUs Granted RSU Value at Grant 2020 08-Jun-2020 27,272 $25.561 2021 N/A N/A N/A 2022 13-Dec-2021 8,101 $37.033 Fiscal Year Grant Date PSUs Granted PSU Value at Grant 2020 13-Dec-2019 38,248 $31.927 2021 14-Dec-2020 72,864 $29.067 2022 13-Dec-2021 53,985 $37.033 (2) A binomial stock option pricing method is used to estimate the value of stock options at the grant date. Details on the stock options granted to the NEOs during the last three fiscal years as well as the inputs used to value the stock options granted follow: Fiscal Year 2022 Fiscal Year 2021 Fiscal Year 2020 Grant date 13-Dec-2021 14-Dec-2020 13-Dec-2019 Stock Options granted 122,808 120,287 127,632 Stock Option value $7.055 $5.869 $5.010 Valuation inputs Exercise price $37.033 $29.067 $31.927 Expected life (years) 5 5 5 Stock price volatility 33.7209% 35.07% 27.76% Dividend yield 3.34% 3.97% 3.67% Risk-free interest rate 1.2420% 0.447% 1.593% The risk-free interest rate is based on the Government of Canada Yield Curve over the expected life of the stock options as at the stock option grant date. (3) “All Other Compensation” includes CWB's contribution to the ESPP and Group RRSP, the value of notional contributions to the Supplemental Retirement Plan, the value of one-time signing bonuses, and certain other immaterial amounts. It does not include perquisites or other personal benefits provided to the NEO that are generally available to all employees, or that do not exceed the lesser of $50,000 or 10% of the total salary for any of the NEOs. - - - - - -
Canadian Western Bank- Management Proxy Circular | 60
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