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| 포스코홀딩스 (사진=연합뉴스) |
[Alpha Biz=(Chicago) Reporter Kim Jisun] POSCO Group has drastically changed its executive incentive system in 18 years. In addition to performance bonuses given in cash, the key is to introduce a Stock Grant system that rewards treasury stocks.
It is the first time in 18 years that POSCO has introduced its own stock performance fund since it abolished the controversial stock option system (2006).
On the 10th, POSCO Holdings, a holding company of POSCO Group, recently decided to grant 27,030 shares to Choi and other executives under the stock grant system that the board of directors decided to introduce at the end of 2021. Based on the closing price on the 10th (398,500 won), it is worth 10.8 billion won.
"The move is aimed at strengthening the responsible management of executives with stock compensation," a POSCO Holdings official said. "We paid them in accordance with internal standards such as executive performance indicators."
In relation to the Stock Grant system, POSCO Holdings disclosed the stock compensation details of its executives on the 7th, following the disclosure on the 17th of last month. There are 28 POSCO Holdings executives, a total of 7,709 shares (368,000 won per share).
In fact, most executives received treasury stock bonuses. Specifically, Chairman Choi Jung-woo received the largest number of treasury shares of 1,812 shares. The closing price of the day is 722 million won. POSCO Vice Chairman Kim Hak-dong followed with 755 shares.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
