Codi Grants Stock Options to All Employees and Executives: "Mutual Growth of Company and Staff"

[Asia Economy Reporter Hyunseok Yoo] Cody, a color cosmetics specialist company under Synergy Partners Group, is granting stock options to all its employees.

On the 15th, Cody announced that its board of directors resolved to newly grant 438,000 stock options to 121 employees. The exercise price is 2,835 KRW, and the exercise period begins two years after the grant date, starting from July 15, 2023. Including previously granted stock options, this corresponds to about 3% of the total issued shares.

Through this stock option grant, Cody plans to reward the hard work of employees who contributed to performance improvement and use it as a stepping stone for greater growth.

In particular, stock options were granted not only to some employees but to all employees, including production workers. This measure was designed to share the fruits of growth company-wide and to provide voluntary motivation for all employees to enhance corporate value in the future.

A company official stated, “As the company’s performance has improved remarkably and the business has maintained stable growth despite the COVID-19 situation, we decided to grant stock options to compensate employees for their efforts so far. We will not let the stock options be a one-time event but will explore various measures, such as granting additional stock options, to secure excellent talent and enable the company and employees to grow together.”