Genesem's EGM to Approve Director Remuneration Limit of 2 Billion KRW and New Remuneration Rules... Limited Shareholder Impact

EGM Convened: June 19, 2026 at 10 AM, 8th floor auditorium of Incheon Songdo HQ. Agenda: Approval of director remuneration limit (Item 1) and director remuneration rules (Item 2).
Director Remuneration Limit: Proposed limit of 2 billion KRW for 2026 (up from 1.5 billion KRW previous cap). Actual previous year payout was 1.482 billion KRW, within limit. Increase may raise costs but limited direct shareholder impact.
Director Remuneration Rules: Establishes detailed payment criteria for base salary, bonuses (regular, performance, special), benefits-in-kind, and equity-based compensation (stock options). Includes provisions for non-executive director allowances and meeting fees.
Transactions with Major Shareholder: Purchase of 11 million KRW from DS Co., Ltd. (related party) in 2025, representing 1.96% of 2025 separate revenue. Immaterial to operations.
Outside Director Exemption: Company qualifies as a KOSDAQ venture firm with assets under 100 billion KRW, exempt from outside director appointment. Board consists of 4 inside directors.
[AI Comprehensive Analysis]This disclosure mainly involves routine adjustment of director compensation structure and is neither particularly positive nor negative. The 500 million KRW increase in the cap is modest relative to absolute size, and actual payments remained within the previous limit, so shareholder value erosion risk is limited. However, inclusion of equity-based compensation could lead to future dilution, warranting ongoing monitoring.