Cancellation of Granted Stock Option(May 6, 2002)
2002-05-07On May 4, 2002, the board of directors of Kookmin Bank has approved and ratified to cancel stock options, granted on March 22, 2002 as described below.
2. Grantees and the number of shares to be cancelled
• Soon chul Lee: 30,000 shares
• Woon youl Choi: 3,000 shares
2. Terms of stock option
2.1 Exercise price
Exercise price = 57,100 Won x (1 + the increase rate of KOSPI banking industry Index x 0.4)
The increase rate of KOSPI banking industry Index = (KOSPI banking industry Index as of the starting date of exercise period*) – KOSPI banking industry Index as of the grant date) / KOSPI banking industry Index as of the grant date.
If the increase rate of KOSPI banking industry index is less than zero, it shall be regarded as zero for the calculation.
2.2 Exercise period: March 23, 2005 to March 22, 2010.
3. Reasons for the cancellation
3.1 Soonchul Lee
Mr. Soonchul Lee, who had been nominated and appointed as Auditor & Executive Director in the shareholders’ meeting on March 22, 2002, has refused to accept the position.
3.2 Woonyoul Choi
Mr. Woonyoul Choi, a Non-Executive Director of Kookmin Bank, who had been appointed in the shareholders’ meeting on March 22, 2002, has resigned voluntarily due to a personal reason.
* When the grantee retires prior to the three years as of grant date, KOSPI banking industry index shall be calculated as of the date of the retirement