Naver Corporation

07/03/2024 | Press release | Distributed by Public on 07/03/2024 01:23

Decision on Disposal of Treasury Stock

Decision on Disposal of Treasury Stock
1. Number of shares to be disposed of Common stock 246,620
Different classes of stocks -
2. Disposal price of shares (KRW) Common stock 162,900
Different classes of stocks -
3. Estimated disposal amount (KRW) Common stock 40,174,398,000
Different classes of stocks -
4. Scheduled disposal period Start date 2024-07-01
End date 2024-07-31
5. Purpose of disposal Payment of treasury stocks to executives and employees to strengthen competitiveness in compensation
6. Disposal method Disposal in exchange (shrs.) -
Off-hours block trading (shrs.) -
Disposal in OTC (shrs.) 246,620
Others (shrs.) -
7. Entrusted brokerage company SAMSUNG SECURITIES CO.,LTD
8. Treasury stock holdings before disposal Acquisition within profits available for dividends (shrs.) Common stock 11,412,157 Ratio(%) 7.03
Different classes of stocks - Ratio(%) -
Acquisition for other reasons (shrs.) Common stock 5 Ratio(%) 0.00
Different classes of stocks - Ratio(%) -
9. Date of board resolution (decision date) 2024-07-01
- Attendance of outside directors Present (No.) 4
Absent (No.) 0
- Attendance of auditors (members of Audit Committee who are not outside directors) -
10. Limit of buying order per day Common stock -
Different classes of stocks -
11. Other matters to be factored into investment decisions - The current disclosure is made in response to the payment of stock grants to employees in order to strengthen compensation competitiveness, and the conditions and number of eligible employees for stock grants are as follows
1) Conditions for delivery
: Full-time employee of the company and affiliated corporations subject to payment on the day of delivery
(Paid in monthly installments according to the period of employment 6 months prior to the grant date)
2) Number of eligible employees
: 8,369 Employees
- 3. The estimated disposal amount is based on the closing price of the company's stock as of the board resolution date (July 1, 2024)
- 6. The disposal method is a direct transfer from the company's treasury stock account to the recipient's account on the day of delivery
【Holding Amount of Treasury Stock before Decision on Treasury Stock Disposal】
(in shrs.)
Methods of acquisition Type of shares Beginning balance Change Closing balance Remarks
Acquisition (+) Disposal (-) Share retirement (-)
Amount of shares acquired within profits available for dividends Direct Acquisition Direct acquisition in exchange Common stock 11,794,847 - 382,690 - 11,412,157 - Exercise of stock options by executives and employees (40,923 shares)
- Distribution of stock grants to employees (170,397 shares)
- Distribution of RSUs to executives and employees (171,370 shares)
Different classes of stocks - - - - - -
Direct acquisition in OTC Common stock - - - - - -
Different classes of stocks - - - - - -
Tender offer Common stock - - - - - -
Different classes of stocks - - - - - -
Sub total (a) Common stock 11,794,847 - 382,690 - 11,412,157 -
Different classes of stocks - - - - - -
Acquisition by trust contract Number of shares indirectly held through trust contracts Common stock - - - - - -
Different classes of stocks - - - - - -
Number of shares directly held Common stock - - - - - -
Different classes of stocks - - - - - -
Sub total (b) Common stock - - - - - -
Different classes of stocks - - - - - -
Amount of shares acquired for other reasons (c) Common stock 5 - - - 5 -
Different classes of stocks - - - - - -
Total (a+b+c) Common stock 11,794,852 - 382,690 - 11,412,162 -
Different classes of stocks - - - - - -
The contents of this English disclosure have been prepared solely by the relevant
listed company and has not been reviewed, audited or examined by KRX. The English disclosure is being provided for reference purposes only to assist foreign investors in their investment decisions relating to such listed company's listed securities. In the event of any discrepancy or difference between the contents of the Korean disclosure and those of the English disclosure, the Korean version shall prevail. It is, therefore, imperative that you review the original Korean disclosure available on KIND (https://kind.krx.co.kr) before making any investment decision.