KESPION Stock Option Grant Amendment Adjusts Exercise Price and Number of Shares for Reverse Stock Split and Process Error

This amendment corrects the stock option grant report originally filed on May 9, 2022, reflecting adjustments to the exercise price and number of granted shares due to a reverse stock split stock merger and a simple error correction.
The number of option shares is reduced from 365,000 to 182,500 shares and the exercise price is increased from 2,554 won to 5,108 won, with the beneficiary count adjusted from 52 to 53 and individual allocations revised.
Given the current stock price of 571 won versus the exercise price of 5,108 won, these options are deeply out of the money, and the granted shares represent only about 0.95% of total outstanding shares, resulting in negligible dilution risk.
[AI Summary]This amendment is an administrative correction aligning previous stock option grant terms with a reverse stock split, with no new capital raising or governance changes, and the deeply underwater options pose minimal shareholder value impact.