The company said it entered into a letter agreement with Browning West, LP on December 22, 2025 and agreed to appoint Walter M. Rosebrough, Jr. to its Board and Corporate Governance and Nominating Committee effective January 3, 2026.

1. 01

   The company said it entered into a letter agreement with Browning West, LP on December 22, 2025 and agreed to appoint Walter M. Rosebrough, Jr. to its Board and Corporate Governance and Nominating Committee effective January 3, 2026.

2. 02

   The company said that during the Cooperation Period it agreed to limit the size of the Board to ten directors. It also said it agreed to use good faith efforts to appoint one additional independent director, subject to Browning West's approval, no later than June 30, 2026.

3. 03

   The company said Browning West agreed to customary standstill restrictions and voting commitments. It said these remain in effect until 30 days before the notice deadline for stockholder director nominations for the 2027 annual meeting.

4. 04

   The company said it will give due and serious consideration to appointing Rosebrough as Chairman of the Board by the end of the Cooperation Period. It also said he will receive the same compensation as other non-management directors.

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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

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