Naver Grants 'Stock Grants' to All Employees... Disposal of 33.5 Billion KRW Worth of Treasury Shares
[Asia Economy Reporter Eunmo Koo] Naver (NAVER) is disposing of treasury shares worth 33.5 billion KRW to provide 'stock grants' to all employees.
On the 3rd, Naver announced through a disclosure that it will dispose of 89,191 common treasury shares. The expected disposal amount is 33,535,816,000 KRW based on the closing price on the day of the board meeting, which was 376,000 KRW per share.
This compensation is part of Naver's stock grant system. A stock grant is a system where the company grants shares it holds to employees. In April, Naver announced the introduction of this system and stated that it would provide treasury shares worth 10 million KRW annually to all employees for three years.
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One year's compensation is paid in two installments each year, in July and the following January. Naver employees will each receive about 13 shares (worth approximately 4.89 million KRW) this time.
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