TORONTO, Aug. 30, 2019 /CNW/ - Sun Life Financial Inc.
(TSX: SLF) (NYSE: SLF) ("Sun Life" or the "Company") today
announced that the executives named below have adopted automatic
securities disposition plans (an "ASDP") in accordance with
guidance under Ontario Securities Commission Staff Notice 55-701
and Sun Life's insider trading policies.
Canadian securities laws permit insiders to adopt ASDPs to sell,
donate or otherwise transfer shares in the future (including upon
exercise of stock options) in accordance with the pre-arranged
terms of their ASDP, on an automatic basis, regardless of any
subsequent material non-public information they receive. Once an
ASDP is established, the insider is not permitted to exercise any
further discretion or influence over how dispositions will occur
under the ASDP.
The implementation of an ASDP program by Sun Life allows for the
realization of long-term incentive compensation in an organized
manner and avoids concerns about initiating transactions while in
possession of material non-public information. Participating
executives subject to Sun Life's minimum stock ownership guidelines
may only sell shares through an ASDP in excess of the required
ownership threshold applicable to them, ensuring further alignment
of the financial interest of the Company's executives and its
shareholders.
Details of the participating executives' ASDPs are set out in
the following table. Transactions will be made pursuant to
pre-determined timing and other criteria and subject to minimum
price thresholds specified in the plan. The ASDPs have a maximum
term of two years.
Participating
Executive
|
Title
|
Intended
Transaction
|
Dean
Connor
|
President and Chief
Executive Officer
|
Exercise and sell
874,218 options
|
Melissa
Kennedy
|
Executive
Vice-President, Chief Legal
Officer and Public Affairs
|
Exercise 46,086
options and sell
to cover
|
Dispositions by the participating executives under the ASDP will
be reported in accordance with applicable securities laws. Each
such filing will bear a notation to advise readers that the
disposition is related to an ASDP. Other insiders of the Company
may from time to time adopt ASDPs during open trading
windows. Sun Life will issue a news release to announce the
adoption of any other ASDPs by its executives.
About Sun Life
Sun Life is a leading international
financial services organization providing insurance, wealth and
asset management solutions to individual and corporate Clients. Sun
Life has operations in a number of markets worldwide, including
Canada, the United States, the United Kingdom, Ireland, Hong
Kong, the Philippines,
Japan, Indonesia, India, China,
Australia, Singapore, Vietnam, Malaysia and Bermuda. As of June 30,
2019, Sun Life had total assets under management of
$1,025 billion. For more information
please visit www.sunlife.com.
Sun Life Financial Inc. trades on the Toronto (TSX), New
York (NYSE) and Philippine (PSE) stock exchanges under the
ticker symbol SLF.
Note to editors: All figures in Canadian dollars
Media Relations
Contact:
|
Investor Relations
Contact:
|
Rajani
Kamath
|
Leigh
Chalmers
|
Associate
Vice-President
|
Senior
Vice-President
|
Corporate
Communications
|
Head of Investor
Relations & Capital Management
|
T.
416-979-6070
|
T.
647-256-8201
|
rajani.kamath@sunlife.com
|
investor.relations@sunlife.com
|
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SOURCE Sun Life Financial Inc.