TOKYO, Mar 27 (Pulse News Wire) – Cacco Inc. (4166.T) decided today to issue restricted shares as compensation to its directors and executives.
The issuance involves 38,400 ordinary shares with a total value of ¥192 million, payable on April 24. The shares will be granted to four non-audit committee directors, three audit committee directors, and one executive officer. Each share will be priced at ¥5,000 based on the closing price of Cacco's stock on the Tokyo Stock Exchange on the day prior to the board resolution.
Under the new compensation program, which was approved during the company’s 15th annual shareholders' meeting held earlier this month, the restricted shares cannot be transferred until the recipient loses their position as a director, auditor, executive, or employee. Additionally, the company retains the right to reclaim the shares if the recipient leaves their role within five years of receiving them. This move aims to incentivize long-term performance and align interests with shareholders while ensuring continued commitment to the company's growth.
The shares will be managed through a dedicated account set up at a securities firm designated by the company throughout the restriction period.
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