CIBC (TSX: CM) cleared by TSX to repurchase up to 30M shares

Rhea-AI Filing Summary

CIBC received Toronto Stock Exchange approval for a new normal course issuer bid, allowing the bank to repurchase and cancel up to 30 million common shares. This represents about 3.3% of its 912,835,441 issued and outstanding common shares as of May 31, 2026.

The maximum 30 million shares under the new bid, combined with 20 million shares already repurchased under the prior program, equal about 5.5% of CIBC’s 912,564,072-share public float. The previous bid, begun in September 2025 and completed in May 2026, retired 20 million shares at an average price of $129.68 for a total of $2.6 billion.

Key Figures

New NCIB size: 30 million common shares Outstanding shares: 912,835,441 shares New NCIB as % of shares: 3.3% +5 more

8 metrics

New NCIB size 30 million common shares Maximum shares for repurchase and cancellation under new bid

Outstanding shares 912,835,441 shares Issued and outstanding as of May 31, 2026

New NCIB as % of shares 3.3% Portion of issued and outstanding shares as of May 31, 2026

Combined NCIBs as % of float 5.5% 30M new plus 20M prior vs 912,564,072-share public float

Public float 912,564,072 shares Public float as of May 31, 2026

Prior NCIB repurchases 20 million shares Shares repurchased and cancelled under previous bid

Average repurchase price $129.68 per share Average price paid under previous NCIB

Total prior NCIB spend $2.6 billion Total amount paid to repurchase 20 million shares

Key Terms

normal course issuer bid, public float, automatic share purchase plan, trading blackout periods, +1 more

5 terms

normal course issuer bid financial

"intention to make a new normal course issuer bid (the "New NCIB")"

A Normal Course Issuer Bid is when a company buys back its own shares from the stock market over time. This usually shows that the company believes its stock is undervalued and wants to support its price, which can be important for investors to watch.

public float financial

"repurchased under the previous normal course issuer bid, represents approximately 5.5% of CIBC's public float"

Public float is the total number of a company's shares that are available for trading by the general public. It excludes shares held by company insiders or large stakeholders who are unlikely to sell them easily. This figure helps investors understand how much of the company's stock is actively available, which can influence its liquidity and how easily its price might change.

automatic share purchase plan financial

"CIBC has also entered into an automatic share purchase plan (ASPP) with CIBC Capital Markets."

An automatic share purchase plan is a pre-arranged agreement that allows investors to buy a set amount of a company's shares at regular intervals without needing to make individual decisions each time. It helps investors steadily build their holdings over time, much like setting a recurring deposit into a savings account, making investing more disciplined and less influenced by short-term market fluctuations.

trading blackout periods regulatory

"when CIBC ordinarily would not be active in the market due to insider trading rules and its own internal trading blackout periods."

Times when company insiders and certain employees are legally or policy-bound to stop buying or selling the company’s stock, usually around sensitive windows such as before earnings, major announcements, or audits. These pauses act like a temporary “hands-off” rule to prevent trades based on information not yet available to the public, reducing the risk of unfair advantage and regulatory violations; investors watch them because they can limit share liquidity and signal forthcoming news.

forward-looking statements regulatory

"we make written or oral forward-looking statements within the meaning of certain securities laws"

Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.

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Available on EDGAR 06/04/2026 - 02:50 PM Accepted by SEC EDGAR 06/04/2026 - 02:50 PM Learn about SEC filing dates

FAQ

What did CIBC (CM) announce in this Form 6-K?

CIBC announced that the Toronto Stock Exchange approved a new normal course issuer bid to repurchase up to 30 million common shares for cancellation. This gives the bank flexibility to return capital to shareholders while managing its balance sheet strength.

How large is CIBC's new normal course issuer bid relative to its shares?

The new bid allows CIBC to buy back up to 30 million common shares, representing about 3.3% of its 912,835,441 issued and outstanding common shares as of May 31, 2026. This sitzes the program versus the bank’s total equity base.

What has CIBC already repurchased under its previous issuer bid?

Under the previous normal course issuer bid, CIBC repurchased and cancelled 20 million common shares. These shares were bought at an average price of $129.68, for a total cost of $2.6 billion, and that earlier program has now been completed and terminated.

Over what period can CIBC buy back shares under the new NCIB?

Purchases under the new normal course issuer bid may begin on or after June 8, 2026 and can continue until the earlier of buying 30 million shares, CIBC terminating the bid, or June 7, 2027, providing up to a one-year repurchase window.

How does the new NCIB compare to CIBC's public float?

The 30 million shares authorized under the new bid, when combined with 20 million shares retired under the previous program, represent about 5.5% of CIBC’s public float of 912,564,072 common shares as of May 31, 2026.

Who will execute CIBC's share repurchases and at what price?

CIBC Capital Markets has been retained as designated broker to repurchase shares for the bank. Any common shares bought under the normal course issuer bid will be acquired at prevailing market prices at the time of purchase and then cancelled by CIBC.

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

Report of Foreign Private Issuer

Pursuant to Rule 13a-16 or 15d-16 under

the Securities Exchange Act of 1934

For the month of June, 2026 Commission File Number: 1-14678

 CANADIAN IMPERIAL BANK OF COMMERCE

(Translation of registrant’s name into English)

CIBC Square, 81 Bay Street

Toronto, Ontario

Canada M5J 0E7

(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:

Form 20-F   ☐ Form 40-F  ☑

The information contained in this Form 6-K is incorporated by reference into the Registration Statements on Form S-8 File Nos. 333-130283, 333-09874 and 333-218913 and Form F-3 File Nos. 333-219550, 333-220284, 333-272447, 333-282307 and 333-294072.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

				CANADIAN IMPERIAL BANK OF COMMERCE
	Date: June 4, 2026			By:	/s/ Allison Mudge
				Name:	Allison Mudge
				Title:	Senior Vice-President

Exhibits

Exhibits			Description
	99.1		News release dated June 4, 2026 - CIBC Receives TSX Approval for Normal Course Issuer Bid

 Exhibit 99.1

 

CIBC Receives TSX Approval for Normal Course Issuer Bid

TORONTO, June 4, 2026 /CNW/ - CIBC (TSX: CM) (NYSE: CM) announced today that the Toronto Stock Exchange (TSX) has accepted notice of CIBC's intention to make a new normal course issuer bid (the "New NCIB"). CIBC has completed its purchase for cancellation of 20 million common shares under its previous normal course issuer bid and has terminated its previous normal course issuer bid. As announced on May 28, 2026, CIBC intends to purchase for cancellation up to 30 million common shares under the New NCIB, representing approximately 3.3% of CIBC's 912,835,441 issued and outstanding common shares as of May 31, 2026.

The maximum number of shares that may be repurchased by CIBC under the New NCIB (30 million common shares), when aggregated with the 20 million common shares repurchased under the previous normal course issuer bid, represents approximately 5.5% of CIBC's public float of 912,564,072 common shares as of May 31, 2026. The average daily trading volume for the six months ended May 31, 2026 and the maximum amount of common shares that could be purchased each day, calculated pursuant to the rules of the TSX for the purposes of the NCIB, were 2,692,339 and 673,084 common shares, respectively.

CIBC's purchase of common shares under a NCIB is consistent with the bank's priority of maintaining balance sheet strength, while generating shareholder value through a balanced capital deployment strategy.

Purchases under the bid may commence through the TSX on or after June 8, 2026 and may also be made through alternative Canadian trading systems, the NYSE and by other such means as may be permitted by the Ontario Securities Commission or other applicable Canadian Securities Administrators. The bid will be completed upon the earlier of (i) CIBC purchasing 30 million common shares, (ii) CIBC providing a notice of termination, or (iii) June 7, 2027. CIBC Capital Markets has been retained to act as designated broker to repurchase CIBC shares pursuant to the bid. The price paid for the common shares will be the market price at the time of the purchase. The common shares purchased under the NCIB will be cancelled.

CIBC has also entered into an automatic share purchase plan (ASPP) with CIBC Capital Markets. Under the ASPP, CIBC Capital Markets may purchase common shares at times when CIBC ordinarily would not be active in the market due to insider trading rules and its own internal trading blackout periods. Purchases will be made by CIBC Capital Markets based upon parameters set by CIBC prior to the commencement of any such blackout period and in accordance with the terms of the ASPP. The ASPP has been approved by the TSX.

CIBC's previous normal course issuer bid for the purchase of up to 20 million common shares commenced on September 10, 2025 and terminated on May 25, 2026, upon completion of the repurchase and cancellation of the full 20 million common shares at an average price of $129.68 per share for a total amount of $2.6 billion.

A NOTE ABOUT FORWARD-LOOKING STATEMENTS: From time to time, we make written or oral forward-looking statements within the meaning of certain securities laws, including in this press release, in other filings with Canadian securities regulators or the U.S. Securities and Exchange Commission and in other communications. These statements include, but are not limited to, statements about our potential normal course issuer bid purchases and about our operations, business lines, financial condition, risk management, priorities, targets, ongoing objectives, strategies and outlook. Forward-looking statements are subject to inherent risks and uncertainties that may be general or specific. A variety of factors, many of which are beyond our control, affect our operations, performance and results, and could cause actual results to differ materially from the expectations expressed in any of our forward-looking statements, including general business and economic conditions worldwide; amendments to, and interpretations of, risk-based capital guidelines; and changes in monetary and economic policy. We do not undertake to update any forward-looking statement except as required by law.

About CIBC
CIBC is a leading North American financial institution with 15 million personal banking, business, public sector and institutional clients. Across Personal and Business Banking, Commercial Banking and Wealth Management, and Capital Markets businesses, CIBC offers a full range of advice, solutions and services through its leading digital banking network, and locations across Canada, in the United States and around the world. Ongoing news releases and more information about CIBC can be found at www.cibc.com/ca/media-centre. 

SOURCE CIBC - Investor Relations

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/June2026/04/c0812.html

%CIK: 0001045520

For further information: For further information: Investor Relations: Jason Patchett, 416-980-8691, jason.patchett@cibc.com; Investor & Financial Communications, Erica Belling, 416-594-7251, erica.belling@cibc.com

CO: CIBC - Investor Relations

CNW 08:00e 04-JUN-26

Filing Exhibits & Attachments

1 document

Press Releases

• EX-991 NEWS RELEASE DATED JUNE 4, 2026 7.6 KB