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Glenn Milnes's employment agreement for his role as CEO commenced in July 2010. His agreement reflects appropriate standard conditions for a CEO of a listed company. Glenn's remuneration is a combination of fixed salary and incentive arrangements. The incentives are a Short Term Incentive (STI) component set at up to 50% of base salary, linked to specific financial and non-financial targets set annually by the Board, and a Long Term Incentive (LTI) component set at up to 50% of base salary, in employee stock options. Glenn's base salary for the year to 31 March 2025 was US$447,782, and he received a bonus (STI) in FY2025 related to performance in FY2024 of US$96,876. Glenn had 2,942,700 employee stock options as of 31 March 2025 of which 608,000 [with an exercise price of $0.475] was granted on 11 July 2024. The remaining employee stock options have vesting dates from 2020 to 2029. Vesting at each date is dependent on him remaining an employee at the applicable vesting date. Glenn Milnes received salary, STI, and entitlements in US$ as employee of ikeGPS Inc. The remuneration shown above has been converted to NZ$ at the average rate for the month each transaction took place. Glenn received no remuneration in his capacity as a Director of the Group.
BSc (Hons), MBA (Dist.), B PhD
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