Kakao Amends Stock Option Grant Due to Treasury Share Cancellation (661,920 shares, exercise price 55,119 won)

Kakao grants stock options to 3,360 employees via shareholder resolution on 2024.03.28 (amended)
Due to treasury share cancellation: granted shares 665,280→661,920, exercise price 54,943→55,119 won
Total granted status 5,000,460→4,459,563 shares (reflecting prior grant changes)
Exercise period: 2026.03.28~2031.03.28, vesting 50% after 2 years, 50% after 3 years
Fair value: 23,019 won per share (binomial model, expected term 4.5 years, volatility 32.85%)
Exercise price calculated as arithmetic average of volume-weighted average prices
Settlement: new shares or treasury shares (company's choice at exercise)
Note: Stock options incentivize long-term employee retention, positive signal