Kwak Noh-jung, president of SK hynix, received company stock worth 9.4 billion won as a long-term performance bonus.
SK hynix disclosed on the 6th that, as of on the 4th, the shares held by President Kwak totaled 14,312. That is an increase of 5,878 from 8,434 on the prior reporting date on the 7th of last month.
The increase reflects SK hynix disposing of treasury shares to pay stock compensation tied to the exercise of long-term performance awards. Based on the closing price that day (1.6 million won), 5,878 shares are worth 9.4048 billion won.
During the same period, Ahn Hyun, president in charge of development at SK hynix, also saw holdings rise by 1,485 shares, from 6,834 to 8,319. Based on the closing price that day, this amounts to 2.376 billion won.
Earlier, on the 22nd of last month, SK hynix said it would dispose of treasury shares to reward executive performance that contributed to securing leadership in the high bandwidth memory (HBM) market and to strengthen responsible management by linking individual rewards with the enhancement of corporate value.
At the time, the recipients included President Kwak, President Ahn, and Executive Adviser Park Jung-ho, among three executives, as well as an outside director. The total number of treasury shares to be granted is 12,271, worth 19.6336 billion won based on the closing price that day.
Meanwhile, powered by expanding demand for AI Semiconductor chips and competitiveness in HBM, SK hynix posted its best quarterly results since its founding in the first quarter of this year. First-quarter revenue was 52.5763 trillion won and operating profit was 37.6103 trillion won, up 198% and 405%, respectively, from a year earlier.