On February 20, 2024, The Toronto-Dominion Bank announced that it has received a shareholder proposal from Vancity Investment Management Ltd, requesting the Company to 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. In addition, the Company recommended the shareholders to vote against the proposal at the annual meeting of shareholders scheduled to be held on April 18, 2024.