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Suncorp boss Johnston pockets a handy $1.2 million shares bonus

Suncorp managing director Steve Johnston has picked up more than $1.2 million in shares through the company’s incentive scheme.

Aug 18, 2023, updated Aug 18, 2023
Suncorp CEO Steve Johnston is seen at the start of the group's annual general meeting in Brisbane. (AAP Image/Dan Peled)

Suncorp CEO Steve Johnston is seen at the start of the group's annual general meeting in Brisbane. (AAP Image/Dan Peled)

Johnston, who has risen through the ranks of the Brisbane-based company, notified the ASX of the vesting of 91,515 shares in Suncorp at $13.73.

Johnston previously held 272,129 ordinary shares in the company which today were valued at $3.6 million.

The increase was based on Johnston’s deferred incentive share rights. He still holds 220,000 of those rights along with 187,000 long term incentives rights.

The company recently announced a profit of $1.4 billion and was still working with ANZ on a potential merger of its banking division which was rejected by the Australian Competition and Consumer Commission.

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The knockback was to face an appeal.

 

 

 

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