KEB grants stock options to 13 executives

SEOUL, Aug. 4 (Yonhap) -- Korea Exchange Bank (KEB), South Korea's fifth-largest
lender, said Tuesday it issued 470,000 shares of stock options to its vice
president and 12 other executives.
"The board approved a plan to offer the executives the stock options as they were
newly appointed or renominated," the bank said in a statement.
Under the decision, Vice President Yoon Jong-ho, whose post was retained by the
board, will be granted options to buy 150,000 KEB shares, with the other managers
to receive the remainder, the lender said.
Their exercise of stock options will depend on KEB's future performances, the
lender said, without disclosing the exercise price, which is usually lower than
the market price.
KEB shares closed at 11,700 won (US$9.58) on the Seoul bourse Tuesday, down 1.68
percent from the previous session.
In March, KEB issued Larry A. Klane 600,000 shares in stock options after he was
appointed as head of the lender.
KEB, controlled by U.S. buyout fund Lone Star Funds, is scheduled to disclose its
second-quarter earnings on Wednesday.
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