UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 OF
THE SECURITIES EXCHANGE ACT OF 1934
FOR THE MONTH OF APRIL 2024
Commission File Number: 333-04906
SK Telecom Co., Ltd.
(Translation of registrant’s name into English)
65, Euljiro, Jung-gu
Seoul 04539, Korea
(Address of principal executive office)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F ☒ Form 40-F ☐
Decision on Disposal of Treasury Shares
On April 25, 2024, the board of directors of SK Telecom Co., Ltd. (the “Company”) approved the Company’s disposal of treasury shares for the purpose of granting shares as bonus compensation to its independent non-executive directors.
| 1. Number of Treasury Shares to be Disposed | Common shares | 5,477 | ||||||||
| Preferred shares | — | |||||||||
| 2. Price of the Treasury Shares to be Disposed (Won) | Common shares | 51,100 | ||||||||
| Preferred shares | — | |||||||||
| 3. Estimated Aggregate Disposal Value (Won) | Common shares | 279,874,700 | ||||||||
| Preferred shares | — | |||||||||
| 4. Disposal Period | From | April 26, 2024 | ||||||||
| To | May 31, 2024 | |||||||||
| 5. Purpose of Disposal | Grant of shares as bonus compensation | |||||||||
| 6. Method of Disposal | Over-the-counter | |||||||||
| 7. Investment Brokerage Agent | Hana Securities Co., Ltd. | |||||||||
| 8. Treasury Shares Held Before Disposal | Acquisition within Limit Based on Maximum Amount of Dividends Payable | Common shares | 1,909,188 | Percentage of shares (%) | 0.89 | |||||
| Preferred shares | — | Percentage of shares (%) | — | |||||||
| Other Acquisition | Common shares | — | Percentage of shares (%) | — | ||||||
| Preferred shares | — | Percentage of shares (%) | — | |||||||
| 9. Date of Resolution by the Board of Directors | April 25, 2024 | |||||||||
|
• Attendance of Outside Directors |
Present: 5; Absent: 0 | |||||||||
|
• Attendance of Auditors (Audit Committee Members who are not Outside Directors) |
— | |||||||||
| 10. Maximum Daily Sale Order | Common shares | — | ||||||||
| Preferred shares | — | |||||||||
11. Other Matters Relating to an Investment Decision
| • | Items 1, 2 and 3 above are based on the closing price of the Company’s shares on April 24, 2024, the day before the date of the resolution by the board of directors. |
| • | The actual number, price and aggregate value of the treasury shares to be disposed may change as of the date of disposal. |
| • | Regarding Item 5 above, the purpose of the disposal is to grant 5,477 treasury shares to five independent non-executive directors through the Company’s compensation program for its independent non-executive directors, which is tied to the Company’s enterprise value and under which the Company grants treasury shares equal to a portion of the independent non-executive directors’ compensation. The number of treasury shares granted to each independent non-executive director varies depending on factors including the role and responsibility of each independent non-executive director. |
| • | Regarding Item 6 above, the disposal will be implemented by the transfer of shares from the Company’s securities account for treasury shares to the securities account of each recipient. |
| [Treasury Shares Held Prior to Decision on Disposal of Treasury Shares] |
| (Unit: shares) |
| Method of acquisition | Type of shares |
Beginning | Change | End | Notes | |||||||||||||||||||||||||
| Acquired (+) |
Disposed (–) |
Cancelled (–) |
||||||||||||||||||||||||||||
|
Acquisition within limit based on maximum amount of dividends payable |
Direct acquisition |
Direct acquisition through stock exchange |
Common shares |
— | — | — | — | — | — | |||||||||||||||||||||
| Preferred shares |
— | — | — | — | — | — | ||||||||||||||||||||||||
| Over-the-counter
acquisition |
Common shares |
— | — | — | — | — | — | |||||||||||||||||||||||
| Preferred shares |
— | — | — | — | — | — | ||||||||||||||||||||||||
| Tender offer | Common shares |
— | — | — | — | — | — | |||||||||||||||||||||||
| Preferred shares |
— | — | — | — | — | — | ||||||||||||||||||||||||
| Subtotal (a) | Common shares |
— | — | — | — | — | — | |||||||||||||||||||||||
| Preferred shares |
— | — | — | — | — | — | ||||||||||||||||||||||||
| Acquisition through broker |
Held in trust by broker |
Common shares |
6,090,410 | — | 6,090,410 | (1) | — | 0 | — | |||||||||||||||||||||
| Preferred shares |
— | — | — | — | — | — | ||||||||||||||||||||||||
| Held by Company |
Common shares |
360,004 | 6,090,410 | (1) | 498,135 | 4,043,091 | 1,909,188 | — | ||||||||||||||||||||||
| Preferred shares |
— | — | — | — | — | — | ||||||||||||||||||||||||
| Subtotal (b) | Common shares |
6,450,414 | 6,090,410 | 6,588,545 | 4,043,091 | 1,909,188 | — | |||||||||||||||||||||||
| Preferred shares |
— | — | — | — | — | — | ||||||||||||||||||||||||
|
Other acquisition (c) |
Common shares |
— | — | — | — | — | — | |||||||||||||||||||||||
| Preferred shares |
— | — | — | — | — | — | ||||||||||||||||||||||||
|
Total (a+b+c) |
Common shares |
6,450,414 | 6,090,410 | 6,588,545 | 4,043,091 | 1,909,188 | — | |||||||||||||||||||||||
| Preferred shares |
— | — | — | — | — | — | ||||||||||||||||||||||||
| (1) | Represents the number of treasury shares that were returned to the Company by the broker upon the decision to terminate the share repurchase agreement on January 26, 2024. |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| SK TELECOM CO., LTD. | ||
| (Registrant) | ||
| By: | /s/ Hee Jun Chung | |
| (Signature) | ||
| Name: | Hee Jun Chung | |
| Title: | Vice President | |
Date: April 25, 2024