[Edaily Reporter Shin Ha-yeon ] Voronoi, Inc.(310210)has granted stock options to its Chief Medical Officer (CMO) contingent upon the company reaching a market value of over 30 trillion won and a change in management control.

Voronoi, Inc. announced on the 9th that it had granted CMO Yin Zhang stock options for 129,100 shares of common stock at 200,000 won per share.

These stock options are designed to be exercisable only in the event of a “change of control” while the company’s enterprise value remains at 30 trillion won or higher. As explained by the company, a “change of control” refers to a transaction in which CEO Kim Hyun-tae transfers his controlling interest to a third party. Accordingly, both conditions—enterprise value and a change of control—must be met for the stock options to be exercised.

Prior to joining Voronoi, Inc., CMO Jang served as Vice President of Global Clinical Development at Eli Lilly & Co., where he led global clinical programs. He currently oversees global clinical development strategy at Voronoi, Inc.

Voronoi, Inc. is pursuing the global co-development of its core pipeline candidates, VRN10 and VRN11, as a key strategy. The options granted to Dr. Jang are interpreted as reflecting the expectation that the company’s enterprise value could exceed 30 trillion won through these core pipeline candidates.

Furthermore, by including a change-of-control clause in these stock options, the company has left open the possibility of strategic options—including mergers and acquisitions (M&A)—should the company’s enterprise value be appropriately recognized in the future.