Aspen Group Management

Management criteria checks 3/4

We currently do not have sufficient information about the CEO.

Key information

John Carter

Chief executive officer

AU$1.3m

Total compensation

CEO salary percentage	39.09%
CEO tenure	no data
CEO ownership	3.1%
Management average tenure	7.2yrs
Board average tenure	2.8yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has John Carter's remuneration changed compared to Aspen Group's earnings?
Date	Total Compensation	Salary	Company Earnings
Dec 31 2025	n/a	n/a	AU$62m
Sep 30 2025	n/a	n/a	AU$59m
Jun 30 2025	AU$1m	AU$519k	AU$57m
Mar 31 2025	n/a	n/a	AU$57m
Dec 31 2024	n/a	n/a	AU$57m
Sep 30 2024	n/a	n/a	AU$53m
Jun 30 2024	AU$1m	AU$496k	AU$48m
Mar 31 2024	n/a	n/a	AU$50m
Dec 31 2023	n/a	n/a	AU$51m
Sep 30 2023	n/a	n/a	AU$53m
Jun 30 2023	AU$995k	AU$471k	AU$54m
Mar 31 2023	n/a	n/a	AU$63m
Dec 31 2022	n/a	n/a	AU$72m
Sep 30 2022	n/a	n/a	AU$74m
Jun 30 2022	AU$883k	AU$440k	AU$75m
Dec 31 2021	n/a	n/a	AU$45m
Sep 30 2021	n/a	n/a	AU$35m
Jun 30 2021	AU$705k	AU$399k	AU$25m
Dec 31 2020	n/a	n/a	AU$18m
Sep 30 2020	n/a	n/a	AU$15m
Jun 30 2020	AU$607k	AU$392k	AU$12m
Dec 31 2019	n/a	n/a	AU$2m
Sep 30 2019	n/a	n/a	AU$444k
Jun 30 2019	AU$199k	n/a	-AU$781k

Compensation vs Market: John's total compensation ($USD962.93K) is about average for companies of similar size in the Australian market ($USD1.11M).

Compensation vs Earnings: John's compensation has been consistent with company performance over the past year.

CEO

John Carter (61 yo)

no data

Tenure

AU$1,328,751

Compensation

Mr. John Carter, M.B.A., serves as Executive Director & Joint CEO of Aspen Group. He was Non-Executive Director of Aspen Group until 2019. He is Managing Director of Mill Hill Capital.He earns MBA from Th...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
John Carter	Executive Director & Joint CEO	no data	AU$1.33m	3.14% A$ 34.0m
David Dixon	Executive Director	7.2yrs	AU$1.33m	2.75% A$ 29.7m
Winston Chan	Group Financial Controller	no data	no data	no data
Patrick Maddern	Head of Asset Management & Development	no data	no data	no data
Sushma Kejriwal	Joint Company Secretary	less than a year	no data	no data
Michael Dunstan	Financial Accountant of Aspen Living Villages Business	no data	no data	no data

7.2yrs

Average Tenure

Experienced Management: APZ's management team is seasoned and experienced (7.2 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
John Carter	Executive Director & Joint CEO	no data	AU$1.33m	3.14% A$ 34.0m
David Dixon	Executive Director	2.5yrs	AU$1.33m	2.75% A$ 29.7m
Guy Farrands	Independent Non-Executive Chairman	13.5yrs	AU$143.27k	0.097% A$ 1.1m
John Freedman	Independent Non Executive Director	no data	AU$72.31k	0.019% A$ 205.1k
Edwina Gilbert	Independent Non-Executive Director	2.8yrs	AU$100.00k	0.087% A$ 937.4k

2.8yrs

Average Tenure

Experienced Board: APZ's board of directors are not considered experienced ( 2.8 years average tenure), which suggests a new board.

Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2026/05/13 03:34
End of Day Share Price	2026/05/13 00:00
Earnings	2025/12/31
Annual Earnings	2025/06/30

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Aspen Group is covered by 4 analysts. 4 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

Analyst	Institution
Andrew MacFarlane	Bell Potter
Matthew Nicholas	CGS International
Tom Bodor	Jarden Limited

Aspen Group Management

Management criteria checks 3/4

Key information

Recent management updates

Aspen Group, Annual General Meeting, Nov 20, 2025

Less than half of directors are independent

Less than half of directors are independent

Less than half of directors are independent

Aspen Group Limited Announces Board Changes

Independent Non-Executive Director recently bought AU$398k worth of stock

Recent updates

Upcoming dividend of AU$0.055 per share

Aspen Group, Annual General Meeting, Nov 20, 2025

Full year 2025 earnings released: EPS: AU$0.28 (vs AU$0.27 in FY 2024)

Less than half of directors are independent

Aspen Group (ASX:APZ) agreed to acquire Adelaide Portfolio of Small Retirement Villages from Aged Care & Housing Group Inc. for AUD 19 million.

Aspen Group Announces Final Distribution for Fiscal Year 2025, Payable on or about 29 August 2025

Aspen Group has completed a Follow-on Equity Offering in the amount of AUD 70.18 million.

Aspen Group has filed a Follow-on Equity Offering in the amount of AUD 3.999999 million.

Less than half of directors are independent

Upcoming dividend of AU$0.05 per share

Less than half of directors are independent

Aspen Group Limited Announces Board Changes

Independent Non-Executive Director recently bought AU$398k worth of stock

Aspen Group, Annual General Meeting, Nov 15, 2024

Aspen Group Provides Distribution Guidance for the Fiscal Year 2025

Full year 2024 earnings released: EPS: AU$0.27 (vs AU$0.31 in FY 2023)

First half dividend of AU$0.043 announced

Aspen Group to Report Fiscal Year 2024 Results on Aug 15, 2024

New minor risk - Shareholder dilution

Independent Non-Executive Chairman recently bought AU$77k worth of stock

First half 2024 earnings released: EPS: AU$0.12 (vs AU$0.15 in 1H 2023)

Eureka Targeted as Takeovers Kick Off

Upcoming dividend of AU$0.043 per share at 4.9% yield

Aspen Group Declares Dividend for the Period of Six Months Ending December 31, 2023, Payable on February 29, 2024

Aspen Group, Annual General Meeting, Nov 22, 2023

Aspen Group, Annual General Meeting, Nov 22, 2023

Independent Non-Executive Chairman recently bought AU$65k worth of stock

Aspen Group Limited Appoints Edwina Gilbert as Director

New minor risk - Profit margin trend

Full year 2023 earnings released: EPS: AU$0.31 (vs AU$0.55 in FY 2022)

Independent Non-Executive Chairman recently bought AU$90k worth of stock

First half 2023 earnings released: EPS: AU$0.15 (vs AU$0.22 in 1H 2022)

Upcoming dividend of AU$0.035 per share

Less than half of directors are independent

Now 22% undervalued

Full year 2022 earnings released: EPS: AU$0.55 (vs AU$0.22 in FY 2021)

Insufficient new directors

Insufficient new directors

Insufficient new directors

Independent Non-Executive Chairman recently bought AU$57k worth of stock

Insufficient new directors

Insufficient new directors

Joint CEO & Executive Director recently bought AU$969k worth of stock

Full year 2021 earnings released: EPS AU$0.22 (vs AU$0.12 in FY 2020)

Independent Non-Executive Chairman recently bought AU$401k worth of stock

New 90-day high: AU$1.21

New 90-day high: AU$1.14

CEO Compensation Analysis

CEO

Leadership Team

Board Members

Company Analysis and Financial Data Status

Data Sources

Analysis Model and Snowflake

Industry and Sector Metrics

Analyst Sources