Stock Option Grant
2003-08-27On August 27, 2003, the Board of Directors has approved and ratified to grant Mr. Jin-Baek Jeong, who was newly elected as Chief Information Officer (“CIO”) for its Information Technology Division, stock options to buy 30,000 registered common stock of Kookmin Bank.
Pursuant to the Article 13 of the Articles of Incorporation, this resolution is subject to the approval and ratification by the shareholders at the nearest forthcoming General Shareholders’ Meeting.
The purpose of the grant is to motivate the grantee to achieve the business targets.
Kookmin Bank may choose to grant stock by means of: 1) issuing new stock; 2) granting treasury stock; or 3) granting the equivalent amount of cash or treasury stock for the difference between the exercise price and the market price.
The exercise period is from August 28, 2006 to August 27, 2011.
In the event of any right offering, stock dividend, transfer of reserves to capital, stock split, reverse split, or merger, which require adjustments to the price or the number of stock after the option grant date, the Board of Directors may adjust the number of options and the exercise price to reflect the changes.