Former ADOR’s Min Hee Jin Files Claim To Cash In Her Put Options
Min Hee Jin announced her resignation from ADOR on November 20, 2024. She penned a heartfelt statement, explaining her decision. She will no longer service as ADOR’s director.
Not only this, but Min Hee Jin also filed a claim to cash in her put options. A put option allows one to sell their stocks at a specific price or before a specific date. She filed the claim at the Seoul Central District Court the same day as her resignation.
Min Hee Jin will be able to earn profits even after leaving the company in this way. If she exercises her put options as per her shareholder agreement, she will be able to receive an amount equivalent to 75% of her stake in HYBE, which is 13 times the average operating profit of the past two years.
According to audit reports from April 2024, Min Hee Jin owns 573,160 shares in ADOR, totalling 18%. She will be able to receive around ₩25.8 billion KRW (about $18.5 million USD) through the put options. Min’s decision surprised some, as if she chose to make her claim in early 2025, she would have been able to cash in a higher amount due to the operating profit bracket applied.
The court may or may not accept Min’s claim, given that Min’s contract has already been terminated.
