MyState Management

Management criteria checks 3/4

MyState's CEO is Brett Morgan, appointed in Jan 2022, has a tenure of 2.83 years. total yearly compensation is A$1.09M, comprised of 56% salary and 44% bonuses, including company stock and options. directly owns 0.057% of the company’s shares, worth A$255.35K. The average tenure of the management team and the board of directors is 5.1 years and 6.1 years respectively.

Key information

Brett Morgan

Chief executive officer

AU$1.1m

Total compensation

CEO salary percentage	56.0%
CEO tenure	2.8yrs
CEO ownership	0.06%
Management average tenure	5.1yrs
Board average tenure	6.1yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has Brett Morgan's remuneration changed compared to MyState's earnings?
Date	Total Compensation	Salary	Company Earnings
Jun 30 2024	AU$1m	AU$609k	AU$35m
Mar 31 2024	n/a	n/a	AU$36m
Dec 31 2023	n/a	n/a	AU$36m
Sep 30 2023	n/a	n/a	AU$37m
Jun 30 2023	AU$736k	AU$598k	AU$39m
Mar 31 2023	n/a	n/a	AU$37m
Dec 31 2022	n/a	n/a	AU$35m
Sep 30 2022	n/a	n/a	AU$34m
Jun 30 2022	AU$666k	AU$283k	AU$32m

Compensation vs Market: Brett's total compensation ($USD707.17K) is about average for companies of similar size in the Australian market ($USD706.54K).

Compensation vs Earnings: Brett's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.

CEO

Brett Morgan

2.8yrs

Tenure

AU$1,087,128

Compensation

Mr. Brett Alexander Morgan, BEc, MAppFin, serves as an Executive Director since January 17, 2022 and Managing Director & Chief Executive Officer since January 2022 at MyState Limited. He had been Chief Exe...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Brett Morgan	MD, CEO & Executive Director	2.8yrs	AU$1.09m	0.057% A$ 255.3k
Gary Dickson	Chief Financial Officer	5.1yrs	AU$545.22k	0.010% A$ 45.3k
Paul Moss	Chief Operating Officer	9.5yrs	AU$484.48k	0.029% A$ 131.6k
Claudio Mazzarella	General Manager of Everyday Banking & Marketing	1.5yrs	AU$439.58k	no data
Janelle Whittle	General Manager People	6.8yrs	AU$431.80k	0.020% A$ 88.2k
Mandakini Khanna	Chief Risk Officer	8.9yrs	AU$542.19k	0.032% A$ 142.4k
Tim Newman	General Manager of Lending	1.4yrs	AU$470.36k	no data
Matthew Pearson	General Manager of Wealth	1.2yrs	AU$430.30k	no data
Greg Slade	Investor Relation Professional	no data	no data	no data
Scott Lukianenko	Company Secretary	11yrs	AU$311.82k	no data

5.1yrs

Average Tenure

Experienced Management: MYS's management team is seasoned and experienced (5.1 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
Brett Morgan	MD, CEO & Executive Director	2.8yrs	AU$1.09m	0.057% A$ 255.3k
Vaughn Richtor	Independent Non-Executive Chairman	5.2yrs	AU$236.50k	0.041% A$ 184.0k
Warren Lee	Independent Non-Executive Director	7.1yrs	AU$137.69k	0.034% A$ 152.5k
Stephen Davy	Independent Non-Executive Director	3.3yrs	AU$121.04k	no data
Andrea Waters	Independent Non-Executive Director	7.1yrs	AU$125.12k	0.036% A$ 160.0k
Sibylle Krieger	Independent Non-Executive Director	7.9yrs	AU$125.12k	0.030% A$ 134.0k

6.1yrs

Average Tenure

66yo

Average Age

Experienced Board: MYS's board of directors are considered experienced (6.1 years average tenure).

MyState Management

Management criteria checks 3/4

Key information

Recent management updates

Insufficient new directors

MyState Limited, Annual General Meeting, Oct 19, 2023

Key Executive recently bought AU$63k worth of stock

MyState Limited, Annual General Meeting, Oct 20, 2021

Key Executive recently bought AU$80k worth of stock

Recent updates

MyState Limited (ASX:MYS) entered into Binding Scheme Implementation Agreement to acquire Auswide Bank Ltd (ASX:ABA) for approximately AUD 200 million in a Merger of equals transaction.

Final dividend of AU$0.12 announced

Full year 2024 earnings released: EPS: AU$0.32 (vs AU$0.35 in FY 2023)

Insufficient new directors

First half dividend of AU$0.12 announced

First half 2024 earnings released: EPS: AU$0.16 (vs AU$0.19 in 1H 2023)

MyState Limited to Report First Half, 2024 Results on Feb 23, 2024

MyState Limited Revises Earnings Guidance for the Fiscal Year 2024

MyState Limited Declares Fully Franked Final Dividend for the Year 2023, Payable on 19 September 2023

Full year 2023 earnings released

Now 20% undervalued

Now 20% undervalued after recent price drop

First half 2023 earnings released: EPS: AU$0.19 (vs AU$0.16 in 1H 2022)

MyState Limited, Annual General Meeting, Oct 19, 2023

Now 21% undervalued after recent price drop

Full year 2022 earnings released: EPS: AU$0.30 (vs AU$0.39 in FY 2021)

MyState Limited Announces Ordinary Fully Paid Dividend for the Six Months Ended June 30, 2022, Payable on September 7, 2022

Now 20% undervalued after recent price drop

First half 2022 earnings: EPS in line with expectations, revenues disappoint

MyState Limited Declares Ordinary Dividend for the Six Months Ended December 31, 2021, Payable on March 15, 2022

MyState Limited to Report First Half, 2022 Results on Feb 18, 2022

Key Executive recently bought AU$63k worth of stock

Full year 2021 earnings released: EPS AU$0.39 (vs AU$0.33 in FY 2020)

MyState Limited has completed a Follow-on Equity Offering in the amount of AUD 80 million.

New 90-day low: AU$4.84

First half 2021 earnings released: EPS AU$0.18 (vs AU$0.17 in 1H 2020)

Revenue misses expectations

MyState Limited, Annual General Meeting, Oct 20, 2021

New 90-day high: AU$5.21

New 90-day high: AU$4.86

Key Executive recently bought AU$80k worth of stock

New 90-day low - AU$3.63

Fiducian Group Limited (ASX:FID) completed the acquisition of the Retail Financial Planning Business from MyState Limited (ASX: MYS).

Full year earnings released - EPS AU$0.33

New 90-day low - AU$3.70

MyState Limited Resolves Not to Pay Final Dividend

CEO Compensation Analysis

CEO

Tenure

Compensation

Leadership Team

Average Tenure

Board Members

Average Tenure

Average Age