Proposed Executive Share Issue, page-34

And from the annual reports Davids base salary has been...
2018 $180,000
2019 $180,000
2020 $130,000 ($75k share based benefits)
2021 $204,000 ($1.12m share based benefits)
2022 $276,000 ($830k share based benefits)
2023 $276,000
(The service agreement in the AR is $23k per month which is $276k a year)

So I don't quite understand how a catch-up of $215,000 as shares is 25% of his base or something he has earned for amazing work over the last two years. Actually I calculate 25% as $138k or 9.6m shares, so the board is going above and beyond with an additional 5.4m shares issued. And I note there were $830k of share based benefits paid in 2022 as well!