AFG CEO fixed remuneration increases to A$800,000 annually

Australian Finance Group Ltd (AFG) has increased the fixed annual remuneration (FAR) for its chief executive, David Bailey, to A$800,000, inclusive of superannuation. This change, effective October 6, 2025, follows an annual review by the company's board of directors and aims to align the CEO's compensation with the market for ASX300 companies, acknowledging AFG's growth since Bailey assumed the role in June 2017.

In addition to the revised FAR, Bailey's remuneration for FY26 includes a Short Term Incentive (STI) paid in cash, with a target value equal to 50% of FAR (maximum 75%). A Long Term Incentive (LTI) awarded in shares is also included, targeting 137.5% of FAR (maximum 206.25%). The notice period to be provided by Bailey has been extended to six months (from three months), and a non-compete provision of up to 12 months following employment cessation remains in effect.

The STI and LTI awards are subject to performance targets and plan rules detailed in AFG's remuneration report for the year ended June 30, 2025.