Re-read page 13 - You might want to make sure you are...

Re-read page 13 - You might want to make sure you are understanding how this remuneration works..
(3) Represents the amortisation of the grant date fair value of options granted to Mr MacGregor in November 2020

Now move to page 11 para 4. for actual remuneration earnt in the year - a lot closer to my number than yours. Your finding ways to make this sound worse than it actually is.

Unfortunately your example of 'proving yourself' is not how it works at the C-suite level. No executive joins a company for a low base salary and no bonus to 'prove' themselves. CEO's have to be attracted to companies, so there's a base level of pay you just have to pay if you want someone qualified and decent. It's quite different to yourself and your scenario, I know that might be hard to understand. I'd actually be pretty uncomfortable if the person running a listed medical devices business was earning only $300k which by the average punter standards appears to be a lot of cash but in the context of business worth potentially 100'ms is not.

I think you are also completely missing the point here. It's not that CEO is sitting around doing nothing because he is only paid [x] and that if or when he is paid [x] + y they will now be motivated. The CEO will be motivated through long term alignment in their payment package to the interest of shareholders. Paying CEO $2-4m per year for a company of this size would obviously make me question the board and what is going on, but that is not what is happening here.