2 years ago
Wemade (a pioneer South Korean crippled developer and publisher) announced connected July 12th that its CEO Henry Chang exercised his banal options and bought 223,504 shares for an astonishing USD 2.67 cardinal (KRW 3,5 billion) and did not merchantability a azygous share. As a result, Mr. Chang’s involvement successful Wemade reached 1.5%.
Wemade shifted its absorption towards metaverse and blockchain exertion with an accent connected processing and servicing well-made games with economically meaningful experiences. As a result, Wemade developed “Wemix”, a game-centric blockchain level (with 14 Play & Earn titles), that provides services including cryptocurrency wallet, NFT auction & marketplace, staking, and more, based connected its inferior coin WEMIX.
This is not the archetypal clip Mr. Chang has shown his dedication to the firm. In fact, helium announced earlier this twelvemonth his pledge to put each his contiguous wage and dividends successful WEMIX coin. Wemade announced connected June 24th that Mr. Chang’s acquisition of 13,424.6 WEMIX coins (worth USD 38,125.86) with the wage helium received from the aforesaid month. This brings his full concern to 51,258.354 WEMIX coins (worth USD 145,573.7). This is besides the 4th clip helium invested his wage successful WEMIX Coin, successful summation to his dividends from past year.
Mr. Chang has perpetually fulfilled his committedness to lend his compensation to the sustainable improvement of Wemix ecosystem. He besides stressed that helium does not program to merchantability a azygous stock nor a azygous WEMIX coin.
CEO compensation packages are portion of firm governance mechanisms. Companies often connection their CEOs banal options that necktie CEO’s compensation to the company’s banal show which creates incentives for CEOs to negociate the steadfast and enactment hard successful ways that maximize steadfast marketplace value.
Often misunderstood, banal options are criticized for inducing apical absorption to prosecute strategies that lone propulsion the banal terms up successful the abbreviated term. This would payment opportunist CEOs who clip the workout of their banal options to erstwhile the banal terms is precocious and merchantability their recently acquired shares astatine a premium.
Mr. Chang is 1 of the precise fewer CEOs successful South Korea to put successful his company’s banal contempt precise precocious volatility successful the superior markets.
Mr. Chang’s determination is highly contrary to a fewer CEOs who exercised their banal options to merchantability the shares past year, lone six to 12 months aft the companies were listed.
In contrast, determination are often publicized cases wherever executives conducted monolithic selloffs of shares received from their banal options which enraged number shareholders. The shareholder sentiment is particularly beardown erstwhile it takes spot soon aft the institution goes nationalist and draws a misconnection betwixt the shareholders and the leaders. However, Mr. Chang’s determination is precisely the opposite.
Mr. Chang reiterated his engagement successful the firm’s semipermanent occurrence and shareholder value. His dedication and hard enactment led Wemade to caller heights. Recently the institution announced USD 131 cardinal successful income gross for the archetypal 4th of 2022 alone. This represents an astonishing 72% summation compared to past year. MIR4, Wemade’s flagship P&E MMORPG (from the Legend of Mir series) gathered 6.5 cardinal progressive users wrong a fewer months of its planetary motorboat successful 12 languages and 170 countries. Its successor MIR M topped Google Play’s popularity illustration aft its merchandise successful South Korea successful June 2022. The highly anticipated planetary P&E mentation volition beryllium launched wrong the year.
Since Mr. Chang’s committedness has nary limit, Wemade is expected to proceed its winning onslaught with much achievements successful some its video crippled improvement and publishing services and its blockchain ecosystem.
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