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Photo courtesy of Yonhap News |
[Alpha Biz= Kim Jisun] SK hynix Inc. disclosed on April 22 that it will dispose of treasury shares worth approximately KRW 15 billion to grant stock-based compensation to three senior executives under a long-term incentive program.
The beneficiaries include CEO Kwak Noh-Jung, President Ahn Hyun, and management advisor Park Jung-Ho.
The shares will be transferred directly into the executives’ personal brokerage accounts, rather than being sold in the market.
A total of 12,271 common shares will be allocated, equivalent to roughly KRW 15 billion based on the previous day’s closing price of KRW 1,224,000 per share. The transfer is scheduled for May 4.
The stock-based compensation is intended to reward management for their contributions to strengthening leadership in the high-bandwidth memory (HBM) market, while aligning individual incentives with long-term corporate value to reinforce accountable management.
SK hynix stated that the share disposal represents the exercise of rights under a long-term incentive agreement linked to shareholder value, adding that the number of shares involved accounts for less than 0.01% of total outstanding shares, resulting in minimal dilution.
Separately, the company will also dispose of treasury shares worth approximately KRW 320 million (265 shares) to compensate six outside directors.
On the same day, SK hynix announced a quarterly dividend of KRW 375 per common share. The dividend yield stands at 0.03%, with a total payout of KRW 265.76 billion. The record date for the dividend is set for May 31.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
