Monitor the say-on-pay vote outcome for any signal of shareholder discontent with executive compensation. The proposed LTIP share increase of 1M shares (10.6% potential basic dilution) will be a key governance vote; if approved, watch for future equity grant patterns and burn rate. The Bye-law amendment to simple majority is a governance positive but routine.
Price Chart
Executive Summary
IBEX Ltd filed its definitive proxy statement for the 2026 annual meeting, seeking shareholder approval for eight proposals including the election of eight director nominees, a say-on-pay vote, an amendment to lower the Bye-law amendment threshold from 75% to a simple majority, and an amendment to the 2020 Long-Term Incentive Plan to add 1,000,000 shares. The filing also discloses FY2026 financial results with revenue of $644.1 million (up 15.4% YoY), net income of $46.3 million (up 25.7% YoY), and adjusted EBITDA of $82.4 million (up 14.5% YoY). CEO Robert Dechant received total compensation of $2,970,260 for FY2026, with 77.3% of his target pay at-risk.
Key Facts
- FY2026 revenue of $644.1 million, up 15.4% YoY
- FY2026 net income of $46.3 million, up 25.7% YoY
- FY2026 adjusted EBITDA of $82.4 million, up 14.5% YoY
- CEO Robert Dechant total compensation for FY2026: $2,970,260
- Proposal to add 1,000,000 shares to the 2020 LTIP, increasing total reserve to 3,637,326.13 shares
- Proposal to amend Bye-law 74 to adopt a simple majority vote standard for Bye-law amendments (currently 75%)
- Company repurchased approximately 0.5 million shares for $14.4 million in FY2026
- Board consists of 8 directors, 5 of whom are independent
- Say-on-pay vote and frequency vote (recommended every 1 year) on the ballot
- No shareholder proposals on the ballot
Financial Impact
FY2026 revenue $644.1M, net income $46.3M, adjusted EBITDA $82.4M; share repurchases of $14.4M; proposed LTIP share increase of 1M shares valued at $44.5M at $44.52/share
Risk Factors
- Potential dilution of up to 10.6% from proposed LTIP share increase if approved
- CEO compensation is heavily weighted to at-risk pay (77.3%), which may face shareholder scrutiny
- Company lost emerging growth company status, increasing disclosure requirements
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 4 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| DEF 14A Filing (Primary) | 0001720420-26-000030 |
| Document: 0001720420-26-000030-index-headers.html | 0001720420-26-000030 |
| Document: 0001720420-26-000030-index.html | 0001720420-26-000030 |
| Document: 0001720420-26-000030.txt | 0001720420-26-000030 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 28, 2026 4d ago | DEF 14A | $45.35 $44.73 | ▼ −1.37% | ▲ +0.41% | $44.73 (−1.37%) |
Oct 22, 2026 10d ago | Press Release | $46.94 | awaiting T+1 | awaiting T+1 | $44.73 (−4.71%) |
Sep 25, 2026 5w ago | 144 | $44.33 $43.38 | ▼ −2.14% | ▼ −1.96% | $44.73 (+0.90%) |
Sep 16, 2026 6w ago | Insider Cluster | $40.92 $40.20 | ▲ +1.76% | ▲ +1.64% | $44.73 (−9.31%) |
Sep 16, 2026 6w ago | Insider Cluster | $40.92 $40.20 | ▲ +1.76% | ▲ +1.64% | $44.73 (−9.31%) |
Sep 16, 2026 6w ago | Insider Cluster | $40.92 $40.20 | ▲ +1.76% | ▲ +1.64% | $44.73 (−9.31%) |
Sep 15, 2026 6w ago | Insider Cluster | $40.28 $40.92 | ▲ +1.59% | ▲ +0.46% | $44.73 (+11.05%) |
Sep 15, 2026 6w ago | 144 | $40.28 $40.92 | ▲ +1.59% | ▲ +0.46% | $44.73 (+11.05%) |
Sep 10, 2026 7w ago | Press Release | $39.80 $40.49 | ▲ +1.73% | ▲ +2.18% | $44.73 (+12.39%) |
May 29, 2026 22w ago | Insider Cluster | $31.64 $32.21 | ▲ +1.80% | ▲ +1.53% | $44.73 (+41.37%) |
US Market Status
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