Roh Tae-Moon, president and CEO of Samsung Electronics (head of the DX division), received about 5.7 billion won worth of company stock as a long-term incentive (LTI).
Samsung Electronics disclosed on the 21st the executives who received part of their long-term performance pay in company stock and the payment details. The recipients total 928 executives and others.
Earlier, Samsung Electronics said it would pay part of executives' long-term performance pay in company stock to strengthen accountable management and encourage long-term performance, and on the 13th disclosed it would dispose of 1,132,477 treasury shares it holds.
According to the disclosure, President Roh Tae-Moon received 22,678 shares of company stock. Applying the payment reference price of 254,500 won per share, the amount is about 5.77 billion won.
Jun Young-hyun, vice chairman and CEO of Samsung Electronics (head of the DS division), received 10,469 shares, accepting company stock worth about 2.664 billion won.
Park Hark-kyu, head of the Business Support TF (president), received 9,819 shares (about 2.499 billion won); the DS division's head of corporate strategy, President Kim Yong-gwan, received 9,990 shares (about 2.542 billion won); and Chung Hyun-ho, vice chairman serving as an aide to Samsung Electronics Chairman Lee Jae-yong, received 13,419 shares (about 3.415 billion won).
Samsung Electronics operates an LTI program in which it evaluates the previous three years of management performance for executives with at least three years of tenure, calculates the long-term incentive, and pays it in installments over the following three years. Depending on performance, up to 300% of the average annual salary is paid.
Since last year, the company has revised the system to allow part of the long-term performance pay to be paid in company stock instead of cash to strengthen accountable management.