Singh Cassidy’s base salary will increase to US$640,000 ($1.071 million) from US$540,000, and her long-term incentive and equity opportunity for the 2027 financial year will rise to US$17.22m.

Her target total remuneration will increase to US$18.5m ($30.93m).

Xero said that about 60% of Singh Cassidy’s 2027 financial year package would not vest for three years and estimated her realisable pay at about US$4.4m, materially lower than the target remuneration figure.

The ASX-listed accounting software company said on Monday its board had completed a remuneration review that would lift Singh Cassidy’s target total remuneration from the 25th percentile to the 50th percentile of a selected group of US-listed technology companies.