Hey Oz.
Depth is fine, but you're not leaning over at all. You're trying to do high bar squats with the bar in the low-bar position. As soon as you start you have to point your chest toward the ground and send the hips back away from your feet.
Also, don't pause in the bottom. Hit your depth and drive the hips right back up.
Get some solid soled shoes as soon as you can. Running shoes are like trying to squat on a mattress.