NEW YORK Jan 3 TD Ameritrade Holding Corp
awarded Chief Executive Fredric Tomczyk $6.52 million
in the company's fiscal-year 2012, a 9.1 percent increase over
his compensation the previous year, according to a regulatory
Net income at TD Ameritrade, the biggest discount broker by
client trading volume, fell 8.9 percent in its fiscal year
ending Sept. 30, to $586 million.
The disclosure was made in the company's proxy filing late
Thursday with the Securities and Exchange Commission.
The compensation committee of the Omaha, Nebraska-based
company said it based awards to its executives on reaching goals
related to trading market share, net new client assets and
earnings per share "in the face of extremely difficult operating
conditions" in 2012.
TD Ameritrade, whose largest shareholder, Toronto-Dominion
Bank, owns about 45 percent of its common stock,
increased net new assets from clients at an annualized rate of
11 percent to $41 billion in fiscal 2012 from the previous year.
Its earnings per share fell to $1.06 for the fiscal year
from $1.11 in the year-earlier period.
The company, which last month declared a special dividend of
50 cents a share, said in October that despite sluggish trading
volume industry-wide, it expects fiscal 2013 earnings generally
to beat analysts' expectations.
The brokerage has expanded into options trading and
fee-based accounts to supplement its market-sensitive commission
business, and last year it reorganized its executive team.
Thomas Bradley, who heads its retail brokerage system and
previously ran its business servicing independent investment
advisers, received $2.37 million in total compensation, down 3.0
percent from his 2011 pay.
Thomas Nally, who assumed Bradley's former position, earned
$1.3 million in fiscal 2012. His 2011 compensation was not
disclosed because he was not part of the senior executive team
Tomczyk received $700,000 in base salary, $4.1 million of
stock awards and incentive plan compensation of $1.6 million.
Since Sept. 30, he was also awarded 240,000 restricted stock
units valued at $3.8 million that will be reported as part of
his 2013 compensation, according to the proxy.
Tomczyk since August also has been a member of the board of
Knight Capital Group as a result of TD Ameritrade's
participation in the bailout of the trading firm, which executes
trades for many discount brokerages. Knight last month agreed to
be acquired by high-speed trading firm GETCO Holding Company.
Shares of TD Ameritrade, whose market capitalization of
$9.46 billion trails the $19.2 billion market cap of competitor
Charles Schwab Corp, rose 12 cents on Thursday to