Calculations are a lot cruder than the impressive ones provided...

Calculations are a lot cruder than the impressive ones provided by @MM0 but none the less .. .. ..

Given the investments made by the Board versus their salaries maybe they aren't as "paltry" as you may have thought?


All salaries calculated to 30 June 2024.

Brendan Borg without going back over his investment / sales again, was paid $283,000 (inc committee fees) gross;
Holding 8,000,000 FPO shares
Recalculated from previous post as there was a flaw in the calculation formula:
Invested a total of $1,791,393 inclusive of adding in the cost base for the in-specie shares, plus the $813,165 pro rata shares.
~ this equates to 6.32 times his gross salary, or;
~ 9.03 times his net salary of $198,334 (using a 30% tax rate)

Simon Hay was paid $1,698,618 (inc $25,052 cash award?, (haven't found what this was for yet)) gross.
Holding - 1,153,475 FPO shares
Invested a total of $604,779, including the valuation of 228,383 STI Performance Shares issued (these were taken instead of cash) cost base for the in - specie shares and the $27,105 pro rata shares.
~ this equates to 35.6% of his gross salary, or;
~ 55.53% of his net salary of $1,089,034 (using 30% tax rate)

Amber Banfield was paid $247,249 gross
Holding 878,737 FPO shares
Invested $548,808 inclusive of the cost base for in - species shares & $27,414 pro rata shares.
~ this equates to 2.21 times her gross salary, or:
~ 3.16 times her net salary of $173,075 (using a 30% tax rate)

Rick Crabb was paid $275,000 gross
Holding - 350,000 FPO shares
Invested $209,010
~ this equates to 76% of his gross salary, or;
~ 1.08 times his net salary of $192,500 (using a 30% tax rate)

Rod Baxter was paid $283,333 gross
Holding - 41,536 FPO shares
Invested $27,829
~ this equates to 11.6% of his gross salary, or;
~ 16.6% of his net salary (using 30% tax rate)

Alan Rule was paid $214,250 (inclusive of $63,000 as interim CFO 8th May - 8th September 2022) gross
Holding - 204,839 FPO shares
Invested $114,451
~ this equates to 53.4% of his gross salary, or;
~ 76.31% of his net salary (using 30% tax rate)

cheers