Market Kurly "Stock Options and Cash Bonuses Granted to All Employees"

Preparation of Compensation Plan for All Employees for the First Time Since Establishment
Stock Options for Regular Employees, Cash Performance Bonuses for Contract Workers Currently Employed

[Asia Economy Reporter Yuri Kim] Market Kurly's operator, Kurly, announced a performance reward plan including stock options for all employees for the first time in seven years since its founding on the 12th.

This performance reward plan is the first large-scale reward plan for all employees since the service opened in 2015. Although stock options were previously granted to some early employees and certain managerial positions, this is the first time performance rewards have been provided to all employees. The plan also includes cash performance bonuses for contract employees as well as regular employees.

On the same day, Kurly resolved at an extraordinary shareholders' meeting to grant stock options to all regular employees. To allocate more shares to regular employees, executives including senior leaders were excluded from the grant.

The number of stock options granted to each individual was allocated differentially based on their tenure at Kurly. Rank and performance were excluded from the distribution criteria. These stock options can be exercised starting two years after the grant date.

Kurly also prepared a reward plan for contract employees. Among current contract employees, incentives will be paid in cash based on length of service and remaining contract period. Considering that the minimum vesting period for stock options is two years, a separate cash reward plan was established for contract employees.

Seula Kim, CEO of Kurly, said, "This reward plan for all employees is a token of gratitude to the entire Kurly team who have dedicated themselves to Kurly's growth so far," adding, "It also reflects our hope that the entire Kurly team will continue to work harder together to become a Market Kurly loved even more by customers."

This content was produced with the assistance of AI translation services.