Lotte Biologics Introduces Stock Options for All Employees... "First Among Affiliates"

"Company and Employees Will Grow Together as One Enterprise"

Lotte Biologics announced on the 2nd that it has decided to introduce a stock option (stock purchase rights) system applicable to all employees. This is the first time in the history of the Lotte Group that stock options have been granted to employees before the company’s listing within an affiliate.

Typically, stock options are implemented for specific employees. A representative from Lotte Biologics explained the background of introducing a stock option system for all employees, saying, "The current employees who will be nurtured alongside rapid growth in the early stages of the business will become the core of Lotte Biologics in the future." They added, "Through various experiences within the company such as mergers and acquisitions (M&A) and business model development, these employees will grow into valuable talent in the domestic bio human resources market." The purpose is to enhance corporate value in the long term by granting stock options to employees.

The upcoming stock option system will select and grant stock options to about 80% of all employees each year based on internal evaluation criteria. In line with the early-stage business context, this will be carried out over the next five years, with recipients confirmed annually and stock options granted through resolutions by the board of directors and the general shareholders’ meeting. Subsequently, the company plans to introduce an employee stock ownership plan to continuously motivate employees and drive performance.

Since its establishment in June 2022, Lotte Biologics completed the acquisition of the Syracuse plant in the United States last January and announced plans to build a mega plant with a total capacity of 360,000 liters in Korea by 2034 during a session presentation at the JP Morgan Healthcare Conference. The company is pursuing business development with the goal of becoming a global top 10 contract development and manufacturing organization (CDMO) by 2030.

Lotte Biologics will conduct open recruitment through the Lotte Group recruitment website from the 6th to the 19th of this month. Separately, applicants wishing to join can register themselves in the talent database via continuous postings on the Lotte Biologics website.