CANADIAN IMPERIAL BANK OF COMMERCE /CAN/

CIBC has released its updated Code of Conduct, approved by its Board of Directors and effective November 2026. The comprehensive document outlines the bank's commitment to ethical behavior, integrity, and trust across all operations. It details expectations for employees regarding legal compliance, conflict of interest management, workplace conduct, information safeguarding, and brand representation, including guidelines on social media and AI usage.

Canadian Imperial Bank of Commerce (CIBC) has entered into an underwriting agreement dated July 6, 2026, with several major financial institutions including CIBC World Markets Corp., Barclays Capital Inc., Citigroup Global Markets Inc., Morgan Stanley & Co. LLC, and Wells Fargo Securities, LLC. This agreement, along with a Fourth Supplemental Indenture dated July 13, 2026, indicates a new issuance of subordinated debt. The supplemental indenture was made with The Bank of New York Mellon and Computershare Advantage Trust of Canada, building upon a prior subordinated debt indenture from November 2024.

Canadian Imperial Bank of Commerce (CIBC) has entered into an underwriting agreement dated June 8, 2026, for the issuance and sale of US$2 billion in aggregate principal amount of debt securities. This includes US$1 billion of 4.723% Fixed-to-Floating Rate Senior Notes due 2029 and US$1 billion of 5.051% Fixed-to-Floating Rate Senior Notes due 2032. The agreement outlines the terms of the offering, including underwriting fees and conditions for delivery and payment, with CIBC World Markets Corp., BofA Securities, Inc., and Goldman Sachs & Co. LLC acting as representatives for the underwriters.

Canadian Imperial Bank of Commerce filed its updated Board of Directors Mandate, which was revised and approved on May 28, 2026. The mandate outlines the Board's comprehensive responsibilities, including supervising management, overseeing strategic planning, risk management, internal controls, and human resource management. It also details the Board's role in corporate governance, ensuring independence, and approving communication and disclosure policies.

Canadian Imperial Bank of Commerce (CIBC) announced that the Toronto Stock Exchange (TSX) has approved its new normal course issuer bid (NCIB). Under this new bid, CIBC intends to repurchase up to 30 million common shares, representing approximately 3.3% of its outstanding shares. This follows the completion of its previous NCIB, under which 20 million common shares were repurchased at an average price of $129.68 per share for a total of $2.6 billion. The new bid, combined with the previous one, represents approximately 5.5% of CIBC's public float, aligning with the bank's strategy to maintain balance sheet strength and generate shareholder value. Purchases are set to begin on June 8, 2026, and will run until June 7, 2027, or until the maximum shares are purchased. Additionally, CIBC has entered into an Automatic Share Purchase Plan (ASPP).

CANADIAN IMPERIAL BANK OF COMMERCE (CIBC) announced senior executive leadership changes to enhance connectivity and collaboration, aiming to accelerate execution and build on strong business performance. Key appointments include Susan Rimmer leading North American Commercial Banking and Eric Belanger heading North American Wealth Management. Christina Kramer will transition out, while Amy South takes on the CAO and Chief of Staff role. The bank also outlined a new financial reporting structure with four business segments, effective in the fourth quarter of 2026.

Canadian Imperial Bank of Commerce reported strong earnings coverage on its subordinated indebtedness for the 12-month period ended April 30, 2026. The bank's earnings before income taxes and interest requirements on subordinated indebtedness were $12,561 million. This figure covered its $374 million interest requirements by 33.6 times, indicating a robust ability to meet its debt obligations.

CANADIAN IMPERIAL BANK OF COMMERCE (CIBC) filed a Form 6-K to furnish certifications in connection with its quarterly report for the period ended April 30, 2026. These certifications include those required by Rule 13a-14 or 15d-14 of the Securities Exchange Act of 1934 and Section 906 of the Sarbanes-Oxley Act of 2002, ensuring compliance with regulatory standards.

Canadian Imperial Bank of Commerce (CIBC) announced that its Board of Directors declared a quarterly dividend of $1.07 per common share for the quarter ending July 31, 2026. This dividend is payable on July 28, 2026, to shareholders of record as of June 29, 2026. Additionally, the Board declared a dividend of $0.367375 per share for Series 47 Class A Preferred Shares, with the same payment and record dates.

CIBC announced strong financial results for the second quarter ended April 30, 2026, with adjusted diluted EPS increasing by 24% and adjusted net income rising by 23% year-over-year. Concurrently, the bank entered an agreement to divest its 91.67% stake in CIBC Caribbean for approximately US$1.6 billion, a strategic move aimed at reallocating capital towards growth priorities in North America. This divestment is expected to boost the bank's CET1 ratio by 24 basis points, reinforcing its capital position.