(Photo= Yonhap news)

[Alpha Biz= Reporter Kim Jisun] Naver has decided to dispose of its own shares to provide stock compensation to its employees.

According to the Financial Supervisory Service's electronic disclosure system on the 1st, Naver will sell 246,620 shares, approximately 7% of its treasury stock, at a price of 162,900 KRW per share, totaling around 40 billion KRW.

Naver stated that this decision was made to enhance its competitive edge in compensation. The beneficiaries are 8,369 full-time employees who are employed at the company or its subsidiaries on the grant date.

Naver previously announced in 2021 that it would provide stock worth 10 million KRW per year to each employee over three years, distributed semi-annually. Stock grants involve directly giving company shares to employees for free, unlike stock options, which do not require a minimum employment period or holding period, allowing employees to sell the shares immediately upon receipt.

 

 

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