TD Bank Group (TD, TD.TO) announced that Colleen Johnston , Group Head Finance and Chief Financial Officer advised of her intention to exercise up to 41,656 options for TD common shares and sell the acquired shares. The options were granted to Johnston in December 2005 as part of her performance-based compensation. These options are due to expire in December 2012.
The company said Johnston intends to donate 100% of the net cash proceeds from the option exercise to charity.
The options Johnston intends to exercise represent 14% of her outstanding options.
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