Aggregate executive compensation
In accordance with Standard 15 of the Financial Stability Board’s Principles for Sound Compensation Practices and Implementation Standards and Basel Committee on Banking Supervision’s Pillar 3 disclosure requirements, the tables below summarize aggregate quantitative information on compensation paid or awarded to 14 Senior Officers (which includes fees paid to members of the Board of Directors) and 31 other employees who could have material impact on Canada Life’s risk exposure (“Material Risk Takers”).
Compensation amounts reflect services rendered to The Canada Life Assurance Company and its respective subsidiaries.
2019 compensation awards ($ millions)
Senior Officers | Senior Officers | Material Risk Takers | Material Risk Takers | |
|---|---|---|---|---|
Salary | 17.5 | 12.8 | ||
Other | 0.1 | 2.1 | ||
Cash-based | 8.3 | 10.2 | ||
Share units | 11.2 | 7.3 | ||
| Stock options* (Variable compensation) | 5.7 | 2.0 |
* Option based awards are calculated based on Black-Scholes value at the time of grant.
Deferred compensation ($ millions)
Senior Officers | Senior Officers | Material Risk Takers | Material Risk Takers | |
|---|---|---|---|---|
Cash-based | 0.5 | |||
Share units | 20.3 | 9.4 | 12.8 | 3.7 |
Stock options | 3.7 | 5.0 | 1.2 | 2.6 |
Calendar year payouts | 4.6 | 4.0 |