CWB-Management Proxy Circular-2023-EN

COLUMN A DETAIL – STOCK OPTION-BASED AWARDS VALUE VESTED DURING THE YEAR

A summary of the value of stock options that vested during fiscal 2022 for each NEO – that is, the number of stock options that vested multiplied by the difference between the stock option exercise price and the closing share price on the TSX on the vesting date – follows. Details about the SIP under which CWB grants stock options can be found on page 44.

Stock Option Grant Date

Stock Option Vesting Date

Number of Stock Options Vested

Stock Option Exercise Price ($)

Vesting Date Value ($)

Value Vested During Year ($)

Christopher H. Fowler President and CEO

15-Mar-2019

15-Mar-2022

51,218

29.433

36.250

349,153

R. Matthew Rudd CFO

15-Mar-2019

15-Mar-2022

5,957

29.433

36.250

40,609

Stephen H.E. Murphy Group Head, CPW Carolyn J. Graham SEVP

15-Mar-2019

15-Mar-2022

20,691

29.433

36.250

141,051

15-Mar-2019

15-Mar-2022

17,948

29.433

36.250

122,352

M. Carolina Parra CRO

-

-

-

-

-

-

COLUMN B DETAIL – SHARE-BASED AWARDS VALUE VESTED DURING THE YEAR

A summary of the value of RSUs that vested during fiscal 2022 for each NEO follows. The value of vested RSUs is calculated as the RSU vesting date value multiplied by the number of vesting RSUs. Details about the RSU Plan can be found on page 50.

Number of RSUs Vested (1)

Value at Grant Date ($)

Vesting Date Value ($)

Value Vested During Year ($)

RSU Grant Date

RSU Vesting Date

06-Jun-2019

06-Jun-2022

3,303

28.625

30.281

100,009

Christopher H. Fowler President and CEO

08-Jun-2020

08-Jun-2022

4,070

25.561

30.172

122,797

06-Jun-2019

06-Jun-2022

1,153

28.625

30.281

34,923

R. Matthew Rudd CFO

08-Jun-2020

08-Jun-2022

1,080

25.561

30.172

32,599

06-Jun-2019

06-Jun-2022

1,334

28.625

30.281

40,398

Stephen H.E. Murphy Group Head, CPW

08-Jun-2020

08-Jun-2022

1,574

25.561

30.172

47,502

06-Jun-2019

06-Jun-2022

1,158

28.625

30.281

35,059

Carolyn J. Graham SEVP

08-Jun-2020

08-Jun-2022

1,304

25.561

30.172

39,352

-

-

-

-

-

-

M. Carolina Parra CRO

-

-

-

-

-

-

(1) Includes additional units granted in respect of dividend reinvestment plan.

A summary of the value of PSUs that vested during fiscal 2022 for each NEO follows. PSUs granted in fiscal 2019 and fiscal 2020 vested in fiscal 2022. The value of PSUs that vested in fiscal 2022 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 47.

Number of PSUs Vested (1)

Vesting Date Value ($)

Performance Multiplier

Value Vested During Year ($)

PSU Grant Date

PSU Vesting Date

14-Dec-2018

15-Dec-2021

21,613

36.49

88.2%

695,622

Christopher H. Fowler President and CEO

13-Dec-2019

31-Oct-2022

20,542

23.49

85.3%

411,594

R. Matthew Rudd CFO

13-Dec-2019

31-Oct-2022

1,818

23.49

85.3%

36,433

14-Dec-2018

15-Dec-2021

8,731

36.49

88.2%

281,013

Stephen H.E. Murphy Group Head, CPW

13-Dec-2019

31-Oct-2022

7,949

23.49

85.3%

159,281

14-Dec-2018

15-Dec-2021

7,574

36.49

88.2%

243,760

Carolyn J. Graham SEVP M. Carolina Parra CRO

13-Dec-2019

31-Oct-2022

6,582

23.49

85.3%

131,889

-

-

-

-

-

-

(1) Includes additional units granted in respect of dividend reinvestment plan.

Canadian Western Bank- Management Proxy Circular | 64

Powered by