Aichi Financial Group,Inc. [7389.T]
TOKYO, Jun 26 (Pulse News Wire) – Aichi Financial Group,inc. (7389.NG) resolved to distribute restricted shares to executives as part of their performance-based compensation plan.
The distribution, set for July 13, involves issuing 1,000,000 ordinary shares at a price of ¥1,000 per share, totaling ¥1,000,000,000. Six directors and ten subsidiary directors will receive these shares, excluding those who are audit committee members or outside directors. The purpose of this distribution is to align executive interests with shareholder value, encouraging contributions towards increasing stock prices and enhancing corporate worth. Under the existing program approved in the first shareholders' meeting held on June 23, 2023, the total monetary compensation amount remains capped at ¥100,000,000 annually.
Additionally, the number of restricted shares allocated to each director is limited to 100,000 shares per fiscal year, adjusted according to the recent stock split ratio effective from April 1, 2026. In accordance with the agreement, the restricted shares will be subject to a holding period until the respective directors retire from their positions. During this period, the shares cannot be transferred, pledged, gifted, or otherwise disposed of without approval. Upon completion of the restriction period, or upon early retirement due to valid reasons recognized by the board, the company reserves the right to reclaim the shares free of charge.
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