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←Toronto Parking Authority - Audit and Risk Management Committee · 2023-03-28 · 2023.PR1.6

The filed record

2023 Short-Term Incentive Plan

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The decision

2023-03-28 · Toronto Parking Authority - Audit and Risk Management Committee · adopted

As filed

The Toronto Parking Authority - Audit and Risk Management Committee recommends that: 1. The Board of Directors of Toronto Parking Authority direct the President, Toronto Parking Authority, to implement the 2023 Corporate Goals and Key Performance Indicator targets for the Short-Term Incentive Plan as identified in Confidential Attachment 1 to the report (March 6, 2023) from the President, Toronto Parking Authority. 2.

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The Board of Directors of Toronto Parking Authority direct that the confidential information contained in Confidential Attachment 1 to the report (March 6, 2023) from the President, Toronto Parking Authority remain confidential in its entirety, as it deals with personal matters about identifiable persons.

On the agenda

As the city filed it

The purpose of this report is to provide a recommendation for the performance targets to be utilized in the Toronto Parking Authority's 2023 Short-Term Incentive Program. Toronto Parking Authority is on its accelerated journey towards its vision of becoming the world's best provider of sustainable parking, bike share and last mile mobility experiences. To support this effort, Toronto Parking Authority has been addressing our significant capability gaps with a particular emphasis on acquiring new talent in an extremely competitive labour market.

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In support of this effort, the Board approved revisions to the compensation plan for the President, Vice-Presidents and Directors and requested that the President report to the Board with recommendations on the design details of the 2023 Short-Term Incentive Program. As requested by the Board, this report provides the specifics of the performance targets to be incorporated into the Short-Term Incentive Program and potential impact on eligible participants. This will require a closed session discussion, as it deals with personal matters about identifiable persons.

Staff recommended

The President, Toronto Parking Authority, recommends that: 1. The Board of Directors, Toronto Parking Authority, direct the President, Toronto Parking Authority, to implement the 2023 Corporate Goals and Key Performance Indicator targets for the Short-Term Incentive Plan as identified in Confidential Attachment 1. 2. The Board of Directors, Toronto Parking Authority, direct that the confidential information contained

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in Confidential Attachment 1 remain confidential in its entirety, as it deals with personal matters about identifiable persons.

    On the record

    The item as the City filed it

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