BAROQUE JAPAN LIMITED [3548.T]
TOKYO, Apr 24 (Pulse News Wire) – Baroque Japan Limited (3548.T) decided at its April 24 board meeting to introduce a new performance-linked restricted stock-based compensation system called Board Benefit Trust-Restricted Stock (BBT-RS). The proposal will be presented to shareholders at the upcoming May 27 annual general meeting.
Under the new scheme, directors and executive officers will receive shares based on their roles and performance achievements. Each director will receive up to 72,000 points per fiscal year, equivalent to ordinary shares. Points earned under the existing BBT program will transition to the new system upon shareholder approval.
Key features of the BBT-RS include restrictions on transferring shares received during tenure until retirement or resignation. Shares will be managed through a trust fund, with voting rights exercised independently by the trustee Mizuho Trust Bank. Any dividends generated will be used to cover acquisition costs and trustee fees.
The company plans to continue funding the trust annually within the approved framework, ensuring alignment between executive remuneration and long-term corporate value enhancement.
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