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

The chief executive of TD Bank Group saw his total compensation for 2019 fall compared with 2018 when he 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.