SK bioscience said Tuesday it will introduce a restricted stock unit (RSU) program for all employees to strengthen responsible management and enhance shareholder value.
SK bioscience’s Songdo Global R&D Center in Incheon (Courtesy of SK bioscience)
The company said in a regulatory filing that it will purchase about 390,000 treasury shares, equivalent to about 0.5 percent of its total issued shares, by July. The share buyback is worth about 17.1 billion won and will be conducted through direct purchases on the market.
SK bioscience said all treasury shares acquired through the buyback will be used as compensation resources for employees under the RSU program.
The company said the RSU system is designed to align employees’ long-term interests with those of shareholders by linking compensation to corporate value creation. Unlike stock options, which can be more sensitive to short-term share price movements, RSUs provide shares only after certain conditions are met.
Under the agreement signed this year, SK bioscience employees will receive shares after completing a mandatory service period of at least three years. The company said the program is intended to encourage long-term retention of key talent and support sustainable corporate value growth.
SK bioscience is currently accelerating its mid- to long-term growth strategy as it seeks to become a global vaccine and biotechnology company. Its 21-valent pneumococcal conjugate vaccine candidate GBP410, being co-developed with Sanofi, is undergoing global phase 3 clinical trials.
The company is also expanding its next-generation pipeline through global partnerships, including projects involving a universal Covid-19 vaccine, RSV preventive antibody, and microneedle patch-based flu vaccine.
“The decision to introduce a performance-linked employee compensation system reflects our confidence in future growth,” SK bioscience CEO Ahn Jae-yong said. “We will build a structure in which performance and corporate value are connected, enabling shareholders and employees to grow together while strengthening our execution capability for mid- to long-term growth.”
Lee Han-soo
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