DXNVX Executives Approve Voluntary Return of Stock Options in Bold Move

DXVX's executives announced on the 30th that they have decided to voluntarily return all 1.43 million stock options granted in July last year to enhance shareholder value.

DXVX disclosed through a public announcement that five executives, including CEO Yonggu Lee, voluntarily returned their stock options to enhance shareholder value by recruiting talented personnel for new drug development and global market expansion, and that the board of directors has resolved to accept this.

The executives who voluntarily returned their stock options played a key role in successfully normalizing management and leading the resumption of stock trading in March this year. They are core personnel who have long supported Chairman Jongyun Lim. Recently, the executives have been considering various compensation plans related to recruiting talented personnel to strengthen new drug development capabilities and enter the global market, and made the unprecedented decision to voluntarily return the previously granted stock options to alleviate overhang concerns and enhance shareholder value. The voluntary return of stock options is very rare and is evaluated as a sincere decision by the executives for the company's high growth and enhancement of shareholder value.

The executives who decided to return their stock options, including CEO Yonggu Lee, plan to continue their current duties unchanged for the company’s ultra-fast growth and intend to take on more diverse roles in the future to leap forward as a global new drug development company.

A DXVX official stated, “We respect the bold decision of the current executives to give up vested rights for the company’s development and enhancement of shareholder value,” and added, “Depending on the results of the external auditor’s audit according to accounting standards, the remaining stock compensation costs related to the returned stock options may be recognized at once, but this is a non-cash expense and unrelated to the company’s cash flow and operating performance.”

Meanwhile, DXVX granted a total of 1.43 million stock options to five inside directors through an extraordinary general meeting of shareholders in July last year.

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