Booking Resort Co.,Ltd. [324A.T]
TOKYO, Jun 23 (Pulse News Wire) – Booking Resort CO.,LTD. (324A.T) announced today that its board of directors approved the introduction of a restricted share compensation plan aimed at incentivizing non-audit committee executive directors to enhance the company's long-term value while fostering greater alignment with shareholders.
Under the new plan, which requires shareholder approval at the upcoming 13th Annual General Meeting scheduled for June 23, 2026, directors will receive monetary awards convertible into shares subject to certain restrictions. The total amount of monetary awards granted annually will be capped at ¥100 million. Specific timing and distribution among individual directors will be determined by the board.
Additionally, the issuance of ordinary shares under this plan will be limited to 80,000 per annum, adjusted based on reasonable grounds such as stock splits or consolidations post-June 23, 2026. Each share’s subscription price will be set based on the closing price of the company’s ordinary shares on the Tokyo Stock Exchange on the day preceding the board resolution, ensuring it does not unduly favor the recipient director. Furthermore, a restricted share allotment agreement will be executed between the company and the directors, prohibiting transfers during a designated restriction period and allowing the company to reclaim shares without payment under certain conditions.
The restricted shares will be managed in dedicated accounts at securities firms appointed by the company throughout the restriction period to prevent unauthorized transactions.
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