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Hanwha |
[Alpha Biz= Reporter Kim Jisun] Hanwha Group is expanding its Restricted Stock Units (RSU) program to include senior executives at major subsidiaries, up to the level of team leaders. On the 18th, Hanwha announced the introduction of RSUs for 976 team leaders across its five key subsidiaries: Hanwha Corporation, Hanwha Aerospace, Hanwha Systems, Hanwha Solutions, and Hanwha Defense. This expansion comes just four years after the initial introduction of the program in 2020.
For executive RSUs, performance bonuses are replaced with RSU grants. For team leaders, they have the option to choose a new RSU program called 'Leader Incentive' instead of their current team leader allowances. This optional program operates on a choice basis and offers varying expected amounts based on future company value appreciation, unlike the existing cash-based team leader allowances.
The vesting period is set at three years, shorter than the previous 5-10 years. Similar to executive RSUs, 50% of the grant amount is issued in stocks, while the remaining 50% is in cash linked to stock prices.
Hanwha conducted explanatory sessions on the program for each subsidiary in mid-June and allowed free choice on conversion in early July. Approximately 88% of the 1,116 team leaders from the five subsidiaries eligible for the program opted for RSUs over their previous allowances.
With the expansion of RSUs, Hanwha aims to encourage employees to focus on responsible management and the company's long-term development, while also enhancing shareholder value.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
