v3.26.1
Share-Based Compensation
9 Months Ended
Jul. 31, 2026
Share-Based Compensation [Abstract]  
Share-Based Compensation
NOTE 13: SHARE-BASED COMPENSATION
For the three and nine months ended July
 
31, 2026, the Bank recognized compensation
 
expense for stock option awards of $
7.3
 
million and $
25.7
 
million,
respectively (three and nine months ended
 
July 31, 2025 – $
6.4
 
million and $
16.5
 
million, respectively). During the three
 
months ended July 31, 2026 and
July 31, 2025,
nil
 
stock options were granted by the Bank.
 
During the nine months ended July 31, 2026,
1.6
 
million (nine months ended July 31, 2025 –
2.0
 
million)
stock options were granted by the Bank at
 
a weighted-average fair value of $
21.89
 
per option (July 31, 2025 – $
12.80
 
per option).
The following table summarizes the assumptions
 
used for estimating the fair value of options
 
for the nine months ended July 31, 2026
 
and July 31, 2025.
Assumptions Used for Estimating the
 
Fair Value of Options
(in Canadian dollars, except as noted)
For the nine months ended
July 31
July 31
2026
2025
Risk-free interest rate
3.42
%
3.08
%
Option contractual life
10 years
10 years
Expected volatility
19.44
%
19.47
%
Expected dividend yield
4.02
%
3.94
%
Exercise price/share price
$
126.43
$
75.76
The risk-free interest rate is based on Government
 
of Canada benchmark bond yields as
 
at the grant date. Expected volatility is
 
calculated based on the historical
average daily volatility and expected dividend
 
yield is based on dividend payouts in the last
 
fiscal year. These assumptions are measured over a period
corresponding to the option contractual life.