Aprogen Adjusts Stock Option Exercise Price Due to Stock Merger; Minimal Dilution Impact on Shareholders

Aprogen filed a correction report adjusting the exercise price of stock options granted on July 8, 2022 from 4,785 won to 71,775 won due to a stock merger.
The adjustment was necessary to maintain the intrinsic value of the options following the share consolidation.
The granted options represent only 0.08% of total outstanding shares and the exercise price is significantly above the current market price of 293 won, making exercise highly unlikely and dilution negligible.
[AI Summary]The stock option exercise price adjustment has no material impact on shareholder value given the small number of options and deep out-of-the-money status.