TOKYO, Mar 24 (Pulse News Wire) – Axis CO.,LTD. (4012.T) announced today that its board of directors resolved to dispose of treasury shares as part of a restricted share award program.
The disposition, scheduled for April 23, 2026, involves distributing 1,500 ordinary shares to three executives at a price of ¥1,496 per share, totaling ¥2.2 million. The purpose of this program is to align executive interests with shareholder value by having them share in stock price fluctuations. Executives will receive cash compensation bonds worth ¥2.2 million, which they will convert into shares through a capital contribution method. The restricted period for these shares runs from April 23, 2026, until the executives' departure from their positions within the company.
During this period, the executives cannot sell, pledge, or otherwise transfer the shares without valid reasons approved by the board. In case of early departure, the company will reclaim the shares free of charge unless there are justifiable reasons for retention. Upon completion of the restricted period, the restrictions will be lifted if the executives continue to hold their positions up to the next annual shareholders' meeting. Additionally, the company has established procedures for managing these shares through SMBC Nikko Securities, ensuring secure storage during the restriction period.
Should significant organizational changes occur, such as mergers or spin-offs, the company reserves the right to lift restrictions based on the number of months remaining in the restricted period at the time of approval.
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