Andrew Morrow

speaker

130 appearances 1 recordings 1 series first heard Jul 2026 last heard 22 Jul

Andrew Morrow’s voice in public audio — every appearance, attributed to the second.

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Recordings per month over the last 12 months — 1 in all, peaking in Jul 2026 with 1.

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Shared Lunch · "Wealth doesn't come from wages” · 22 Jul 2026 podcast

And so why not make the upside as much as you can?

Well, yes it is, but it also plays out economically if you can get it right.

We've got a New Zealand and US components to our business.

So we had to have a plan that worked across both jurisdictions.

And we looked at issuing shares or share options or things like that.

And issuing securities in both jurisdictions was hard.

So we took a cash-based, effectively phantom plan that operated on an annual grant to all staff that qualified.

And then that vested over three years.

So if you left within the three years, you got...

no return because creating value takes a period of time.

And so that was our belief that it was reasonable.

And so we took that.

And at the end of the three years, we cashed that period out.

We set a target for share appreciation, private equity sort of levels at 25% compounding per annum.

So a reasonable clip.

Then if we achieved all of that, we got 100%, you know, our staff got 100% of what their target was.

You kind of double in three years if you're compounding at 25% per annum, which is pretty good.

During time, we paid out cash along the way, and that was a good reward because it ended up being a longer journey than we thought, but it also helped those people who had been in for a while, some of the key people that we really needed to stay on.

They ended up getting an annual bonus as a result of

But these are the people who have been there for quite a long time now.

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