Ecopro Begins RSU Distribution for Founding Anniversary

On the 22nd, Company Shares Distributed to Over 2,500 Employees and Executives

EcoPro will grant Restricted Stock Units (RSUs) with transfer restrictions to its employees.

On the 20th, EcoPro announced that it will provide 127,456 RSUs to approximately 2,500 employees in celebration of its 26th anniversary on the 22nd.

Following overseas training trips for all employees to Japan in 2018, the company's 20th anniversary, and to Singapore last year for its 25th anniversary, EcoPro is fulfilling its promise to share management performance with employees through RSU grants this year. Despite facing difficulties due to the chasm (temporary demand slowdown), the company expects that by delivering the promised RSUs as scheduled, it will create a breakthrough to overcome challenges together with its employees.

Half of RSUs to be paid on the 22nd, the remaining half in October next year

A total of about 2,500 employees will receive company shares, amounting to 127,456 shares. Of these, approximately 118,000 shares, or 93% of the total, are allocated to general employees below the senior level.

Earlier, in October 2022, EcoPro’s board of directors decided to grant RSUs to all employees. The total number of shares approved for issuance was 254,913, with half, 127,456 shares, to be paid this year. The remaining half is scheduled for payment in October next year.

The number of shares was determined comprehensively based on position, years of service, and salary, set at about 15-20% of annual salary. Listed company employees receive shares of their own company, while employees of unlisted companies receive shares of the listed parent company.

Employees can receive the shares in their personal stock accounts or opt to receive cash equivalent to the stock value directly.

EcoPro expects that RSU grants will contribute not only to rewarding employee performance but also to enhancing shareholder value. The stock compensation system is regarded in the industry as encouraging long-term employee retention and boosting motivation and morale. By motivating employees to contribute to company growth, EcoPro ultimately expects shareholder value to increase as well.

Overseas training conducted on the 20th and 25th anniversaries

Employees who participated in the 2018 Japan training program are taking a commemorative photo. Photo by Ecopro

The EcoPro Group has also conducted overseas training for all employees in line with its 20th and 25th anniversaries.

In 2018, the 20th anniversary, the company held its first overseas training trip to Japan. Starting in 1998 with one employee and capital of 100 million won, EcoPro began with environmental materials and expanded its business into battery cathode materials. After repeated failures and challenges, the company shifted to a profitable structure around its 20th anniversary.

Former EcoPro Chairman Dong-chae Lee reportedly said at the time, "Although we have never missed paying salaries on the promised date, employees were anxious whether my bank account would be credited properly," and added, "Now that the company has settled, I want to share the fruits of growth with you all," proposing the overseas training for all employees.

After receiving enthusiastic responses from employees who participated in the training, Chairman Lee promised to conduct another overseas training for the 25th anniversary last year. Accordingly, EcoPro held an overseas training trip to Singapore for all employees last year, fulfilling the founder’s promise.

The Singapore training was conducted sequentially over about eight months from June last year to February this year, targeting 3,044 employees across all affiliated companies, with a 3-night, 5-day schedule. The company-wide overseas training was regarded as an unprecedented welfare benefit for all group employees. It was also analyzed to have positively influenced employees’ loyalty and morale.

An EcoPro representative said, "The founder’s management philosophy of sharing the fruits of growth with employees is being realized through various programs such as overseas training and the introduction of RSUs," adding, "We expect employees’ sense of ownership to be further enhanced."