Magnachip CEO awarded stock and options grant
MAGNACHIP SEMICONDUCTOR Corp reported that its new Chief Executive Officer and director, Chae Lee, received an initial equity award in connection with his appointment.
Rhea-AI Filing Summary
MAGNACHIP SEMICONDUCTOR Corp reported that its new Chief Executive Officer and director, Chae Lee, received an initial equity award in connection with his appointment. He was granted 288,750 shares of common stock and a stock option for 148,750 shares at an exercise price of $5.50 per share, expiring on July 1, 2036. According to the award terms under the company’s 2020 Equity Incentive Plan, each grant will vest over four years with a one-year cliff, and continued vesting is conditioned on Mr. Lee’s ongoing service with the company.
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Insider Trade Summary
Grant/Award: 437,500 shares
Grant/Award
2 txns
Insider
LEE CHAE
Role
Chief Executive Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Stock Option (Right to Buy) | 148,750 | $0.00 | $0.00 |
| Grant/Award | Common Stock | 288,750 | $0.00 | $0.00 |
Holdings After Transaction:
Stock Option (Right to Buy) — 148,750 contracts (Direct);
Common Stock — 288,750 shares (Direct)
Footnotes (2)
- F1. In accordance with his appointment as the Issuer's Chief Executive Officer and principal executive officer and as a director of the Issuer, Mr. Lee was granted an initial equity award under the Issuer's 2020 Equity Incentive Plan (as amended). Each grant will vest over four years, with a one-year cliff vesting period, subject to Mr. Lee's continued service through each applicable vesting date.
- F2. See above explanation.
Key Figures
Common stock grant: 288,750 shares
Option grant size: 148,750 shares
Option exercise price: $5.50 per share
+3 more
6 metrics
Common stock grant
288,750 shares
Initial equity award to CEO Chae Lee
Option grant size
148,750 shares
Stock option underlying common stock
Option exercise price
$5.50 per share
Strike price for stock option
Option expiration
July 1, 2036
Expiration date of CEO option grant
Common shares after grant
288,750 shares
CEO’s reported common stock holding following transaction
Derivative holdings after grant
148,750 options
CEO’s reported option position following transaction
Key Terms
2020 Equity Incentive Plan, cliff vesting, principal executive officer, stock option
4 terms
2020 Equity Incentive Plan financial
"granted an initial equity award under the Issuer's 2020 Equity Incentive Plan (as amended)"
cliff vesting financial
"Each grant will vest over four years, with a one-year cliff vesting period"
principal executive officer financial
"his appointment as the Issuer's Chief Executive Officer and principal executive officer"
The principal executive officer is the highest-ranking manager who leads a company’s overall strategy, operations and public communication—often acting like the captain of a ship who sets direction and makes final calls. Investors watch this person because their decisions, credibility and ability to deliver results shape company performance, risk and market confidence, and changes in that role can directly affect stock value and corporate accountability.
stock option financial
"Stock Option (Right to Buy) ... underlying security title: Common Stock"
A stock option is a contract that gives you the right to buy or sell a company's stock at a specific price within a certain time frame. People use them to potentially make money if the stock's price moves favorably or to protect against losses. It's like holding a coupon that can be used to buy or sell stock at a set price later on.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What equity awards did MAGNACHIP (MX) CEO Chae Lee receive?
Chae Lee received 288,750 shares of common stock and a stock option for 148,750 shares. The option has a $5.50 exercise price and expires July 1, 2036, forming his initial equity package as CEO and director.
How do Chae Lee’s MAGNACHIP (MX) equity awards vest?
Both the stock grant and option vest over four years with a one-year cliff. After the first year, additional portions vest over the remaining term, subject to Mr. Lee’s continued service with MAGNACHIP SEMICONDUCTOR Corp.
What is the exercise price and term of Chae Lee’s MAGNACHIP (MX) option?
The granted stock option covers 148,750 shares of common stock at a $5.50 per share exercise price. The option expires on July 1, 2036, providing a long-dated incentive tied to future company performance and his tenure.
Under which plan were Chae Lee’s MAGNACHIP (MX) equity awards granted?
The equity awards were granted under MAGNACHIP SEMICONDUCTOR Corp’s 2020 Equity Incentive Plan, as amended. This plan governs the terms, including vesting schedules and conditions tied to Mr. Lee’s continued service with the company.
AI-generated analysis. How Rhea-AI works. Not financial advice.
