TOKYO, Mar 25 (Pulse News Wire) – Nexon CO.,LTD. (3659.T) announced today that its board of directors resolved to issue stock options to its directors based on the approval granted during the company's 19th ordinary shareholders' meeting held on March 25, 2021.
Under the resolution, one director who serves as an audit committee member will receive 4,180 stock options, of which 4,180 are designated for external directors. Each option corresponds to one share of common stock. The total number of stock options to be issued is 4,180. Exercise of these options does not require monetary payment and is contingent upon the recipient remaining in their position as a director. The exercise period extends until four years after March 25, 2026.
Additionally, the company outlined conditions under which the stock options could be exercised, such as in cases of resignation, retirement, dismissal without cause, death, or disability. Any fractional shares resulting from the exercise would be rounded down. Furthermore, the company reserved the right to acquire stock options in certain organizational restructuring scenarios approved by shareholders or the board. Regarding capital increases due to the exercise of stock options, the additional paid-in capital would amount to half of the calculated capital increase limit according to Corporate Accounting Standards Rule 17, rounding up any fractions less than one yen. The corresponding increase in capital reserve would be determined by subtracting the increased paid-in capital from the aforementioned limit.
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