Ann: Business Update and FY2022 Outlook & Investor Call details, page-32

Yeah - he bought 361,500 shares for $2.0m at an average price of 5.5333 per share.

However - it was US redbubble shareholders who funded it - with the company using shareholder funds to advance him a $1.6 million NON RECOURSE loan. He wrote out a whopping $400k cheque (a fraction of his annual total compensation). What a deal.

After a tremendous first year of shareholder value destruction its fun to revisit his remuneration:

• Salary & Super: $800k pa inclusive of super
• Base equity: $400k per annum in the form of zero priced options
• Long term incentive: Annual $800k - grant of share appreciation rights (would safely assume he wont be getting LTI's this year - would be outrageous if the board waived the compounding return targets
• Loan arrangement: $1.6m non recourse loan (already described)
• So in theory a $2.0 million pa total potential remuneration