Samsung Electronics paid the 2024 excess profit incentive (OPI) to executives in company stock.
Samsung Electronics disclosed on the 3rd the details of the company stock granted to executives on the 26th.
Earlier, in Jan. last year, Samsung Electronics first introduced a system under which OPI would be received in company stock as part of responsible management: at least 50% for senior vice presidents, at least 70% for executive vice presidents, at least 80% for presidents, and at least 100% for registered executives.
At the time, Samsung Electronics included a condition that if the share price one year later was the same as or higher than at the time of the agreement, the agreed quantity would be received, but if the share price fell, the number of shares paid would decrease by the rate of decline.
The company stock granted this time is for the 2024 OPI that executives agreed to in Jan. last year. The share price on the payment date was 152,100 won.
Roh Tae-Moon, head of the Device eXperience (DX) division (president), received 40,579 shares, the most among executives. This amounts to 6.17206 billion won.
Park Hark-kyu, head of the Business Support Office (president), received 10,736 shares. That amounts to 1.63294 billion won. Jun Young-hyun, head of the Device Solutions (DS) division (vice chairman), who leads the semiconductor business, received 5,135 shares (worth 781.03 million won).
Vice Chairman Chung Hyun-ho, an aide to the chairman, received 13,368 shares (worth 2.03327 billion won). Choi Won-joon, head of development for the Mobile eXperience (MX) division and chief operating officer (COO, president), received 9,984 shares (worth 1.51856 billion won), and Yoon Seok-woo, president of the Visual Display division, received 5,316 shares (worth 808.5 million won).
Company stock for the 2025 OPI is scheduled to be paid on the 30th.
Samsung Electronics expanded the system starting this year so that, from the 2025 OPI, employees can choose to receive part of their incentive in stock like executives.