Bank of Queensland has filed a replacement Initial Director’s Interest Notice to correct administrative errors in the disclosure for newly appointed director Rod Finch. The correction, lodged on 15 October 2026, removes expired Premium Priced Options that should not have appeared in the original filing submitted on 2 March 2026. The company attributed the omission to an administrative processing delay in removing the expired options before lodgement.
Finch was appointed as a director on 1 March 2026 and is required under ASX Listing Rules 3.19A and 3.19B to disclose his relevant interests in the bank’s securities. The corrected notice shows that Finch holds 429,137 Executive Performance Rights and 1,064,316 Premium Priced Options as registered holdings. Beyond these direct interests, he also has beneficial interests in securities held through Pacific Custodian Pty Ltd, including 18,775 Performance Shares, 50,568 Restricted Shares, and 98,765 Ordinary Shares through the BOQ Employee Share Plan Trust. This combination of holdings totals approximately 1.66 million securities across multiple classes.
The scope of Finch’s holdings reflects significant alignment with shareholder interests through performance-based and restricted equity grants typical for senior bank executives. The mix of options, performance rights, and restricted shares creates an incentive structure that ties his remuneration to company performance over multiple time horizons. The correction itself is procedural in nature and does not indicate any undisclosed transactions or material changes to Finch’s interests since his appointment three weeks prior.
From an investor perspective, the correction shows why governance frameworks around director disclosure and compliance with ASX Listing Rules matter. The rules exist to maintain market transparency and investor confidence in the integrity of director shareholding information. BOQ’s statement confirms that the company maintains adequate systems and processes to manage transactions in securities and associated notifications. While administrative delays in processing expiry dates can occur during high-volume periods, correcting them promptly demonstrates a commitment to accuracy and regulatory compliance.
Finch’s appointment as a director in early March makes this the appropriate time for the market to have a clear and accurate picture of his shareholdings and interests. The corrected disclosure removes any ambiguity from earlier records and ensures that ongoing investor monitoring of director interests proceeds on a factual foundation. The scale of his economic exposure to BOQ through the option position alone represents a meaningful stake in the bank’s future performance.
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Investors should continue monitoring director transactions and shareholding changes through regular Appendix 3Y notices, which capture variations in director interests following the initial disclosure. Any material acquisitions or disposals by Finch or other directors will be disclosed within two business days under continuous disclosure rules. Changes to the composition and shareholdings of BOQ’s board will remain relevant to ongoing assessment of the bank’s governance and the alignment of management incentives with shareholder value.
View the full ASX announcement (PDF)
About Bank of Queensland Limited (ASX: BOQ)
Bank of Queensland Limited is an Australia-based regional bank that provides financial services including home loans, personal finance, commercial loans, and banking and savings accounts. The company operates through Retail Bank and BOQ Business segments, and also owns Virgin Money Australia and Me Bank. It is headquartered in Newstead, Australia.
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