StradVision called a shareholder meeting to return its security officer to the board
The listed vehicle-perception software company will ask shareholders on October 8 to re-elect its chief information security officer as an inside director and to grant 317,527 stock options to 69 employees.
StradVision filed notice on September 22 of an extraordinary general meeting of shareholders, to be held at 9 a.m. on Thursday October 8 in the Gangnam district of Seoul. The record date was September 9. The board resolved to call the meeting on August 25 and disclosed it then, with the same date, venue and agenda.
The first item on the agenda is the election of an inside director. The candidate is Jeon Bong-jin, who has been the company’s chief information security officer since April 2016. The board’s recommendation states that he has served as an inside director since the company was founded in 2014, has contributed substantially to its core technology development and to management generally, and is being renominated as his term expires.
The second item is a grant of stock options over 317,527 new common shares to 69 employees. The exercise price is to be set by the volume-weighted method under South Korea’s capital markets legislation, and the options become exercisable two years after grant for a five-year period. The company gave the purpose as retaining key staff and rewarding performance. StradVision has 53,825,322 shares outstanding, and its option pool is capped at 12 percent of that.
StradVision develops perception software for driver-assistance and automated-driving systems and is listed on the KOSDAQ market. Both records of the meeting are exchange filings; the company issued no press release that could be located.
Source: Korea Financial Supervisory Service, DART disclosure system