TOKYO, Mar 27 (Pulse News Wire) – Airtech Japan,ltd. (6291.T) announced today that its board of directors has approved the issuance of shares as part of its restricted stock award program.
The company plans to distribute ordinary shares worth ¥7.5 million on April 24, 2026, to four non-audit committee directors. Each share will be valued at ¥1,258. This distribution follows the implementation of the restricted stock award system, which was decided upon during a board meeting held on February 12, 2021, and subsequently ratified by shareholders at the 48th regular general meeting on March 29, 2021. Under this system, eligible directors receive monetary compensation up to ¥20 million annually, which is converted into restricted ordinary shares.
The shares come with restrictions on transfer until the end of their tenure with the company. The purpose of this program is to incentivize long-term value creation among directors while fostering greater alignment with shareholder interests. The awards granted this time consist of principal cash bonds totaling ¥7.5 million and ordinary shares amounting to 6,000. In addition, the restricted stock agreement stipulates that the shares cannot be transferred, pledged, or otherwise disposed of during the restriction period, which runs from April 24, 2026, through the immediate resignation following the director's departure from their position.
Any unexercised shares will revert to the company free of charge upon expiration of the restriction period or earlier termination due to valid reasons such as retirement or death.
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