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Biz News Korea(Eng)
SK Hynix, SK Telecom grant stock option to their CEOs
- Collected
- 2017.02.25
- Distributed
- 2017.02.27
- Source
- Go Direct
SK Group said on Friday that SK Hynix held a board meeting on Wednesday to grant its CEO Park Sung-wook an incentive option to sell or buy 298,800 company shares that value 15 billion won ($13.3 million) based on Thursday’s closing price of 50,200 won.
SK Hynix said in a regulatory filing that the stock option was a promotion to enhance corporate value. For full 2016, its operating income was down 19 percent, but thanks to rebound in demand and prices in mainstay memory chips, the chipmaker’s income topped $1 billion in the fourth quarter.
SK Telecom board also approved to grant its president Park Jung-ho a stock option for 66,504 shares valued at 15.4 billion won based on the closing price of 231,000 won per share on Thursday. SK Telecom was introducing stock option compensation for its CEO for the first time in 15 years. SK Telecom’s net profit rose 9.5 percent on year in 2016.
SK Group said other affiliates including SK Corporation will hold a board to bestow stock option to their CEOs as part of efforts to encourage more responsible management.
By Lim Sung-hyun
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