The company said its Compensation Committee approved on December 9, 2024 a grant of restricted stock units (RSUs) to Chief Financial Officer Martin Kelly with a value of $10 million. The RSUs are to be granted on December 20, 2024.

1. 01

   The company said its Compensation Committee approved on December 9, 2024 a grant of restricted stock units (RSUs) to Chief Financial Officer Martin Kelly with a value of $10 million. The RSUs are to be granted on December 20, 2024.

2. 02

   The company said the RSUs are meant to recognize Kelly's performance, retain him and bring his compensation level closer to its peer group. It said the award will be considered in annual compensation decisions for the next 3 years and is intended to provide $3.3 million per year.

3. 03

   The company said the RSUs are subject to meeting an AGM performance fee income requirement, and the underlying shares will not be delivered until 2028. If Kelly voluntarily resigns before December 31, 2027, delivery of shares underlying the vested RSUs will be delayed by 2 years, until 2030.

4. 04

   The company said no shares underlying the RSUs will be delivered if Kelly breaches certain restrictive covenants, including non-competition and non-solicitation provisions, or if he is terminated for cause. Dividend equivalents will be paid on the RSUs.

Analysis scope · Filing bodyWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.