Sk Telecom Co Ltd 6-K, filed Mar 25, 2022
Sk Telecom Co Ltd (SKM)
About this 6-K
Sk Telecom Co Ltd filed this 6-K on March 25, 2022.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 OF
THE SECURITIES EXCHANGE ACT OF 1934
FOR THE MONTH OF MARCH 2022
Commission File Number: 333-04906
SK Telecom Co., Ltd.
(Translation of registrant’s name into English)
65, Euljiro, Jung-gu
Seoul 04539, Korea
(Address of principal executive office)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F ☒ Form 40-F ☐
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ☐
Note: Regulation S-T Rule 101(b)(1) only permits the submission in paper of a Form 6-K if submitted solely to provide an attached annual report to security holders.
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ☐
Note: Regulation S-T Rule 101(b)(7) only permits the submission in paper of a Form 6-K if submission to furnish a report or other document that the registrant foreign private issuer must furnish and make public under the laws of the jurisdiction in which the registrant is incorporated, domiciled or legally organized (the registrant’s “home country”), or under the rules of the home country exchange on which the registrant’s securities are traded, as long as the report or other document is not a press release, is not required to be and has not been distributed to the registrant’s security holders, and if discussing a material event, has already been the subject of a Form 6-K submission or other Commission filing on EDGAR.
Decision on Stock Option Grant
| 1. | Structure |
| A. | Recipients |
| Name | Position |
Number of shares issuable
|
||||||||
|
Type of shares
|
Number of shares
|
|||||||||
|
Ryu, Young Sang
|
Representative Director | Registered common shares | 295,275 | |||||||
|
Kang, Jong Ryeol
|
Head of ICT Infrastructure Center | Registered common shares | 21,743 | |||||||
|
Lee, HyunA
|
Head of AI&CO | Registered common shares | 12,884 | |||||||
|
Cho, Dong Hwan
|
Head of Cloud Technology | Registered common shares | 8,697 | |||||||
|
Han, Myung Jin
|
Head of Corporate Strategy | Registered common shares | 11,274 | |||||||
|
Ha, Hyung Il
|
Head of Corporate Development | Registered common shares | 10,737 | |||||||
|
Ha, Seong Ho
|
Head of Corporate Relations | Registered common shares | 9,341 | |||||||
|
Im, Bong Ho
|
Head of Mobile CO | Registered common shares | 8,858 | |||||||
|
Kim, Jin Won
|
Head of Corporate Planning | Registered common shares | 10,629 | |||||||
|
Park, Yong Joo
|
Head of ESG | Registered common shares | 10,334 | |||||||
|
Kim, Hee Seop
|
Head of Communication | Registered common shares | 7,086 | |||||||
|
Ahn, Jung Hwan
|
Head of Corporate Culture | Registered common shares | 8,858 | |||||||
|
Total:
|
Registered common shares | 415,716 | ||||||||
| B. | Share Type : Common Share (treasury shares), cash settlement |
| C. | Grant Date: March 25, 2022 |
| D. | Total Number of Shares Granted Hereby: 415,716 shares |
| E. | Cumulative Number of Shares Granted Including Shares Granted Hereby: 1,036,527 shares |
| F. | Exercise period: |
| a. | Ryu, Young Sang: March 26, 2025 – March 25, 2029 |
| b. | Other Recipients: March 26, 2024 – March 25, 2027 |
| G. | Valuation Method and Major Assumptions: |
| a. | Ryu, Young Sang: |
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| Exercise Period |
Number of Shares Exercisable |
Fair Value (Won) |
Volatility | Risk-Free Rate of Return |
Dividend Yield | Valuation Method |
||||||||
| March 26, 2025 – March 25, 2029 |
295,275 | 11,772 | 24.20% | 2.80% | 3.40% | Binomial options pricing model | ||||||||
| b. | Other Recipients: |
| Exercise Period |
Number of Shares Exercisable |
Fair Value (Won) |
Volatility | Risk-Free Rate of Return |
Dividend Yield | Valuation Method |
||||||||
|
March 26, 2024 – March 25, 2027 |
120,441 | 10,435 | 24.20% | 2.68% | 3.40% | Binomial options pricing model | ||||||||
| H. | Exercise price: |
| a. | Ryu, Young Sang: Won 56,860 (This price was calculated as the arithmetic mean of volume weighted average closing prices from the following periods prior to the grant date: two months, one month, one week.) |
| b. | Other Recipients: Won 56,860 (This price was calculated as the arithmetic mean of volume weighted average closing prices from the following periods prior to the grant date: two months, one month, one week.) |
| 2. | Overview of Conditions |
| • | The stock options granted as described above will be cancelled if the recipient does not remain employed by the Company for at least two years from the grant date. |
| • | If the exercise price of the stock options is lower than the market price of common shares at the time of exercise, cash settlement of the difference is possible. |
| • | The exercise price and the number of stock options may be adjusted pursuant to the relevant stock option grant agreement or by resolution of the Board in the event of a change in the stock value due to the reasons of any capital increase, stock dividend, capital transfer of reserves, stock split, merger or spin-off after the grant date. |
| • | Other terms of the grant of stock options shall be governed by applicable law, the Company’s articles of incorporation and the stock option grant agreement. |
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| SK TELECOM CO., LTD. | ||
| (Registrant) | ||
| By: /s/ Hee Jun Chung | ||
| (Signature) | ||
| Name: |
Hee Jun Chung | |
| Title: |
Vice President | |
Date: March 25, 2022
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