Lee Jung-kyu, CEO of BridgeBio, Donates Free Shares to Employee Stock Ownership Association for 3 Consecutive Years

Cumulative Appearance Volume of 330,000 Shares... Approximately 3.8 Billion KRW in Scale

Lee Jung-kyu, CEO of Bridge Biotherapeutics.

[Asia Economy Reporter Myung-Hwan Lee] Bridge Biotherapeutics announced on the 17th that its largest shareholder and CEO, Jeong-gyu Lee, has donated 110,000 shares, equivalent to approximately 2.98% of his existing 3,687,478 shares, to the employee stock ownership association free of charge.

The volume corresponds to about 1.28 billion KRW based on the closing price on the 17th.

All shares donated to the employee stock ownership association will be mandatorily deposited with Korea Securities Finance Corporation for four years. After the expiration of the period, the shares will be allocated to the members of the employee stock ownership association according to the association’s regulations.

CEO Jeong-gyu Lee has continued to donate 110,000 shares free of charge annually for three consecutive years since 2021. The total shares gifted to the employee stock ownership association over three years amount to 330,000 shares, valued at approximately 3.8 billion KRW based on the closing price on the 17th. Bridge Biotherapeutics explained that this consecutive free donation reflects CEO Lee’s intention to continuously strengthen employee cohesion toward joint growth and innovative new drug research and development.

CEO Lee stated, "This donation signifies keeping pace with the company’s continuous growth," adding, "I hope it will serve as a virtuous cycle catalyst that strengthens the unity of all employees for innovative new drug development, enabling a stable leap as a global biotech and taking a step forward toward greater growth."

A representative of Bridge Biotherapeutics’ employee stock ownership association said, "The CEO’s large-scale free donation to the employee stock ownership association will not only enhance productivity in innovative new drug research and development through solid trust between labor and management but also act as a significant motivator contributing to corporate value increase from a mid- to long-term perspective."

Meanwhile, since its founding, Bridge Biotherapeutics has implemented policies such as granting stock options to all employees who join the company. In December last year, the company was recognized for exemplary operation of the employee stock ownership system and contribution to labor-management harmony, receiving the Minister’s Award for the Employee Stock Ownership Association at the '2022 Labor-Management Culture Merit Government Awards Ceremony' hosted by the Ministry of Employment and Labor.

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