TOKYO, May 26 (Pulse News Wire) – ASMO Corporation (2654.T) announced today that its board of directors has approved the introduction of a restricted share compensation plan for directors, excluding outside directors. The plan aims to incentivize long-term value creation and enhance shareholder alignment.
Under the proposed scheme, directors would receive monetary bonds convertible into shares subject to certain restrictions. The total amount of monetary bonds to be granted annually under the new plan is set at up to ¥50 million, sitting within the company’s existing ¥135 million overall director compensation framework approved in 2007. Each director’s specific grant timing and allocation will be determined by the board.
Additionally, the issuance or disposal of common shares under this plan will not exceed 75,000 per annum, adjusted based on split or consolidation ratios post-resolution date. The conversion price for these shares will be based on the closing price of ASMO's ordinary shares on the Tokyo Stock Exchange on the day preceding the board resolution, ensuring fairness. Furthermore, a restrictive agreement will be signed between ASMO and participating directors, prohibiting transfers and encumbrances during a designated restriction period, and allowing ASMO to reclaim shares.
This proposal will be presented for shareholders' approval at the upcoming 51st Annual General Meeting scheduled for June 26, 2026.
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