Overview
- The board reset Sukhinder Singh Cassidy's target total remuneration from US$15.2 million to US$18.5 million after benchmarking her pay against US-listed SaaS and technology peers.
- Her base salary increases to US$640,000 and the value of long-term incentives rises to US$17.2 million.
- New awards for the 2027 financial year will be granted as restricted stock units, existing option grants remain unchanged, and no further option grants will be made.
- Cassidy sold her remaining direct Xero shares for personal tax reasons but continues to hold more than 171,000 RSUs and about one million unlisted options, and the company now requires the CEO to build a shareholding equal to five times base pay within three years.
- Xero said the changes do not affect its earnings guidance and that Cassidy's projected realisable pay for FY2027 is about US$4.4 million because most of the revised package vests over time while the company's share price remains roughly half its level a year earlier.