TOKYO, May 14 (Pulse News Wire) – Calbee,inc. (2229.T) announced today that its board of directors has decided to continue and amend its performance-linked equity-based compensation program until March 31, 2031.
The amendments will be presented for approval at the company's 77th annual shareholders' meeting scheduled for June 24, 2026. Under the amended program, Calbee will now focus on key metrics outlined in its growth strategy "Accelerate the Future," including EBITDA, ROIC, relative TSR, and additional unspecified targets. The changes aim to enhance alignment with shareholder interests and support long-term value creation. Additionally, the company plans to eliminate retirement benefits for executives and redirect those funds towards the equity-based compensation plan.
Key modifications include extending the duration of contributions from three fiscal years to five fiscal years, increasing the point allocation limit from ¥22.00 trillion points (¥22.00 trillion) to ¥48.00 trillion points (¥48.00 trillion), and adjusting the performance criteria from consolidated operating profit and net income to EBITDA and ROIC. The revised structure ensures no dilution of shares due to direct purchases from the stock market. Calbee’s Board Incentive Plan (BIP) trust remains central to the program. The trust will acquire Calbee shares based on executive roles and performance achievements, distributing shares or cash equivalents to eligible executives according to their earned points.
Any residual shares at the end of the trust term will either be transferred back to Calbee or used to extend the trust through additional agreements.
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