TOKYO, Mar 26 (Pulse News Wire) – Altech Corporation (4641.T) resolved today to distribute restricted shares as part of its equity compensation plan. The distribution, set for April 17, involves issuing 1,000,000 ordinary shares to five executives, excluding external directors.
Each share will be priced at ¥1,000, totaling ¥1 billion. The purpose of this issuance is to incentivize long-term value creation and enhance alignment with shareholders. Under the program, which was approved by shareholders in March 2018, the company grants cash-settled awards convertible into restricted shares annually. These shares come with a 40-year holding period during which they cannot be freely traded or used as collateral.
Additionally, the company entered into allocation agreements with the recipients, stipulating that the shares will remain restricted until April 16, 2066. Exceptions to this restriction include continued service in certain executive roles or upon retirement, death, or other reasons deemed valid by the board. In such cases, partial restrictions may be lifted based on tenure served. The valuation for the share distribution is determined based on the closing price of Altech's ordinary shares on the Tokyo Stock Exchange on March 25, 2026, ensuring fairness and transparency in the process.
🟡 Confidence: Standard AI-translated content.