TOKYO, Mar 27 (Pulse News Wire) – Broadband Tower,inc. (3776.T) announced today that its board of directors, held, approved the issuance of restricted shares as part of its incentive plan.
The new share issue, totaling 1,000 ordinary shares at ¥1,000 per share, will amount to ¥1,000,000. The shares will be allocated to 12 directors, excluding one director named Imai Eijirou. This move follows the introduction of a restricted stock compensation system in August 2016 aimed at enhancing long-term corporate value and fostering closer alignment between management and shareholders. Under this system, directors receive equity grants tied to performance metrics and subject to holding restrictions for one year.
The allocation and distribution timing for individual directors will be decided by the board meeting or through consultation among non-audit committee directors. Additionally, the company entered into separate restricted stock grant agreements with its directors. Key provisions include a restriction period from April 20, 2026, to March 26, 2027, contingent upon continued service as a director during this period. Any premature departure due to reasons other than retirement would result in partial lifting of restrictions based on tenure served.
Upon completion of the restriction period, all restrictions will be lifted, allowing unrestricted trading of the shares.
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