On March 1, 2024, Canadian Imperial Bank of Commerce announced that it has received a shareholder proposal from Vancity Investment Management, the Board of Directors undertake a review of executive compensation levels in relation to the entire workforce and, at reasonable cost and omitting proprietary information, publicly disclose the CEO compensation-to-median-employee-pay-ratio on an annual basis, urging the shareholders to vote against the proposal at the annual meeting of shareholders scheduled to be held on April 4, 2024.