United Microelectronics Corp. distributed 32,956 restricted shares to key executives as part of its employee retention strategy, with the company’s chairman and co-presidents receiving the largest allocations.
Chairman John Hsuan and co-presidents Jason Wang and SC Chien were each granted 1,280 shares worth approximately NT$55.16 million ($1.83 million) based on the current share price of NT$43.1.
The Taiwanese chipmaker’s latest share distribution comes from a previously approved pool of 66,000 restricted shares authorized at this year’s shareholders meeting. Executive vice president Ming-Chih Hsu received 650 shares, while other senior executives were granted between 280 and 450 shares each.
The stock grants will vest over a four-year period, with executives required to remain employed and meet individual performance metrics as well as company operational targets. The vesting schedule allocates 33% after two years, another 33% after three years, and the final 34% after four years.
The company aims to align employee and shareholder interests through the restricted share program while maintaining competitiveness in talent retention within Taiwan’s semiconductor industry.
