TOKYO, Jun 23 (Pulse News Wire) – Aozora Bank,ltd. (8304.T) resolved today to issue equity-based stock options to its executive officers, excluding concurrent directors, through a resolution made during a board meeting held.
The bank plans to allocate a total of 2,435 stock options to 17 executives. Each option entitles the holder to purchase 10 ordinary shares of Aozora Bank. The exercise price per share is set at ¥1. The issuance date is scheduled for July 13, 2026, and the options will expire on July 14, 2026.
The payment amount for each option will be calculated based on the Black-Scholes model, considering various factors such as the closing price of the bank's ordinary shares on the Tokyo Stock Exchange on the allocation date, risk-free interest rates, and dividend yields. In addition, the bank outlined conditions for exercising the options, including restrictions on transfers and provisions for acquiring unexercised options in certain circumstances, such as mergers or reorganizations involving the bank. Furthermore, the bank detailed how the capital increase resulting from the exercise of these options would be handled, specifying that the additional capital would be limited to half of the capital increase limit stipulated by the Corporate Accounting Standards Act, rounded up to the nearest whole number. Any excess funds would be allocated to the capital reserve fund.
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