39

12

News

SM Entertainment to issue stock grants to all employees as incentives

AKP STAFF
Posted by Susan-Han Thursday, August 8, 2024 5,374

On August 9 KST, SM Entertainment announced that it will be issuing stock grants to nearly all of its employees, except for executives and board members. 

The agency stated, "Each employee will receive 50 shares per person." The stock grants are intended to encourage and incentivize all employees as SM Entertainment who will be contributing to the company's successful transition into a multi-production system, as outlined by its SM 3.0 initiative. Approximately 28,000 shares in total, worth 2 billion KRW (~ $1.5 million USD), will be issued.

Additionally, in an effort to enhance shareholder value, SM Entertainment intends on destroying 1% of its current treasure stocks (a total of 235,895), following approximately 240,000 stocks destroyed in February of this year. 

The company's remaining treasury stocks (approximately 460,000) may be used for investment purposes or destroyed at a later time. 

SEE ALSO: 'I Live Alone' will be the only variety show airing on MBC ahead of ruling on President Yoon Suk Yeol's impeachment

  1. misc.
5,374 Share 76% Upvoted

allkpop in your Inbox

THE TOP 10 STORIES DELIVERED DAILY
Red Velvet, Yeri
Super Junior, Shindong
IU
T-ara, Hyomin, Soyeon
Lee Byung Hun, Lee Min Jung
Jang Na Ra, Nam Ji Hyun
Red Velvet, Yeri
IU
misc.
The Rose
misc.
Red Velvet, Yeri
IU
IU, Kim Seon Ho, Moon So Ri, Park Bo Gum, Yeom Hye Ran
BTS, Jin
New Message

SEND