TORONTO, Dec. 4, 2009 (Canada NewsWire via COMTEX News Network) --
Donates Portion to Charity
TD Bank Financial Group (TDBFG) announced today that Colleen Johnston, Group Head Finance and Chief Financial Officer advised of her intention to exercise up to approximately 39,000 options for TD common 
, which represents 17% percent of her outstanding options. Ms. Johnston intends to retain approximately 15,000 shares, donate approximately 1,500 shares to The Heart and Stroke Foundation of Ontario and sell the remaining acquired shares. The options were previously granted to Ms. Johnston on December 9, 2004. These options will expire on December 9, 2011.
Ms. Johnston made the decision to exercise these options at this time due to the bank's conservative trading restrictions policies that could prevent her from trading TD common shares, including exercising options, for potentially long periods of time. Under these policies, trading is not permitted for at least six weeks prior to each quarterly release. From time to time, particular circumstances arise that further restrict trading and the combined effect can be a blackout for certain individuals for the better part of a year.
Following the intended exercise of options and sale of acquired shares, Ms. Johnston would continue to meet her share ownership requirement of six times her base salary. As disclosed in the 2008 proxy circular, Ms. Johnston currently satisfies the share ownership requirement based on her equity holdings including share units, deferred share units and personal holdings.
Under TD's policies, TD is required to announce by way of press release Ms. Johnston's intention to conduct any transaction in TD stock, including the exercise of stock options, at least five business days in advance of the date of the transaction.
Ms. Johnston has other outstanding options that are approaching expiry in the coming years, and her intention to exercise these options before they expire will also be pre-disclosed in accordance with these policies.