Grant of Stock Options to Employees... Exercise Price Above Market, Limited Dilution, Minimal Shareholder Impact

Grant to 8 employees of 47,000 common shares (0.36% of total shares outstanding, minimal dilution).
Exercise price: 31,950 KRW (approximately 16% above current price of 27,550 KRW, low incentive to exercise at current levels).
Vesting schedule: From May 28, 2028 to May 27, 2035 (staggered over 2-4 years).
Fair value: 21,240 KRW (binomial model, risk-free rate 4.09%, expected volatility 75.68%, expected life 9 years).
Total outstanding options after grant: 288,450 common shares.
Purpose: Incentivize employees and retain talent to achieve management goals.
[AI Comprehensive Analysis]This stock option grant is small in scale with an exercise price above the current market price, limiting immediate dilution concerns. However, potential dilution exists if the stock price rises in the future. Overall impact on enterprise value is neutral.