Executive pay
Summary Compensation Table
The table below is a summary of the compensation received by the NEOs for the last three fiscal years ended June 30, 2018, June 30, 2017 and June 30, 2016.
Name and principal position
Year
Salary
Share- based awards(1)
Option- based awards(2)
Non-equity incentive plan compensation
Pension value
All Other Compensation
Total Compensation
Short-term incentive plans(3) Long-term incentive plans
($) ($) ($) ($) ($) ($) ($) ($)
Terry Booth,
Chief Executive Officer and
Director(4)
2018 325,000 690,000 336,422(5) 243,750 Nil Nil Nil 1,595,172
2017 62,692(6) 130,000 1,854,167(5) 243,750 Nil Nil 287,500(6) 2,578,109
2016 Nil Nil Nil Nil Nil Nil 125,000(6) 125,000
Steve Dobler,
President and Director(7) 2018 250,000 483,000 235,495(8) 125,000 Nil Nil Nil 1,093,495
2017 58,636(9) 50,000 1,854,167(8) 125,000 Nil Nil 200,000(9) 2,287,803
2016 Nil Nil Nil Nil Nil Nil 75,000(9) 75,000
Glen Ibbott,
Chief Financial Officer(10)
2018 250,000 483,000 235,495 125,000 Nil Nil Nil 1,094,245
2017 37,500 10,417 1,648,462 20,833 Nil Nil Nil 1,717,212
2016 N/A N/A N/A N/A N/A N/A N/A N/A
Amy Stephenson,
Former Chief Financial
Officer(11)
2018 Nil Nil Nil Nil Nil Nil 10,000(12) 10,000
2017 Nil Nil 58,944 Nil Nil Nil 163,250(12) 222,194
2016
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
John Bean,
Former Chief Financial Officer and Director(13)
2018 Nil Nil Nil Nil Nil Nil Nil Nil
2017 Nil Nil Nil Nil Nil Nil 9,900(14) 9,900
2016 Nil Nil Nil Nil Nil Nil 43,200(14) 43,200
Cameron Battley,
Chief Corporate Officer(15) 2018 250,000 483,000 544,466 125,000 Nil Nil Nil 1,403,466
2017 200,000 50,000 589,356 100,000 Nil Nil Nil 939,356
2016 N/A N/A N/A N/A N/A N/A N/A N/A
Allan Cleiren,
Chief Operating Officer(16)
2018 250,000 483,000 243,495 125,000 Nil Nil Nil 1,102,245
2017 20,192 5,209 1,482,945 5,209 Nil Nil Nil 1,513,375
2016 N/A N/A N/A N/A N/A N/A N/A N/A
Notes:
(1) The fair value of the share-based awards for the 2018 financial year was based on the closing price of $2.76 on September 28, 2017. The share-based awards for the 2017 financial year were accrued during the year ended June 30, 2017 and granted on September 28, 2017, and the fair value of these awards was based on the closing price of $2.76 on September 28, 2017.
(2) Options are valued using the Black-Scholes option pricing model as described in the Company’s audited financial statements for the years ended June 30, 2018 and 2017. These amounts represent the fair value of the Options at the date of grant.
(3) STIs for the year ended June 30, 2018 were paid on August 10, 2018, and STIs for the year ended June 30, 2017 were paid on September 25, 2017.
(4) Mr. Booth was appointed Chief Executive Officer on December 9, 2014. Mr. Booth does not receive any compensation for his role as a Director.
(5) Stock options were granted to Lola Ventures Inc., a private company controlled by Mr. Booth.
(6) Management fees paid to Lola Ventures Inc., a private company controlled by Mr. Booth. Effective January 1, 2017, Mr. Booth entered into an employment agreement with the Company.
(7) Mr. Dobler was appointed President on December 9, 2014. Mr. Dobler does not receive any compensation for his role as a Director.
(8) Stock options were granted to 1771472 Alberta Ltd., a private company controlled by Mr. Dobler.
(9) Management fees paid to 1771472 Alberta Ltd., a private company controlled by Mr. Dobler. Effective January 1, 2017, Mr. Dobler entered into an employment agreement with the Company.
(10) Mr. Ibbott was appointed Chief Financial Officer on May 8, 2017.
(11) Ms. Stephenson was appointed Interim Chief Financial Officer on August 4, 2016 and ceased to be CFO effective May 8, 2017. Ms. Stephenson provided transition consulting services until August 9, 2017.
(12) CFO service fees paid to Branson Corporate Services Inc. Adam Szweras, a director of the Company, has a 24.5% indirect interest in Branson, through a family trust for the benefit of his minor children.
(13) Mr. Bean was appointed Chief Financial Officer on December 9, 2014 and ceased to be CFO effective August 2, 2016.
(14) CFO management fees paid to InSpire Consulting Services Ltd., a company controlled by Mr. Bean.
(15) Mr. Battley was appointed Executive Vice President on November 7, 2016 and promoted to Chief Corporate Officer on January 8, 2018.
(16) Mr. Cleiren was appointed Chief Operating Officer effective May 8, 2017.
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