Canare Electric Co.,Ltd. [5819.T]
TOKYO, Mar 31 (Pulse News Wire) – Canare Electric CO.,LTD. (5819.T) resolved to distribute restricted shares worth over ¥1 billion to its executives during a board meeting held today.
The distribution, set for April 28, involves 19,440 ordinary shares at a price of ¥1,000 per share, totaling ¥19,440,000,000. Under the incentive program introduced in February 2022, the company grants restricted stock units to non-outsider directors and certain executive officers to enhance their motivation and align interests with shareholders. Each recipient must hold the shares until they vacate their positions within the company or its subsidiaries, subject to conditions outlined in agreements with the company.
In addition to the share distribution, the company also plans to grant principal monetary bonds amounting to ¥2,000,000,000 to eligible recipients. The shares will be managed through a dedicated account at Nomura Securities to ensure compliance with restrictions on transfers and pledges. The distribution price was determined based on the closing price of Canare Electric's ordinary shares on the Tokyo Stock Exchange on March 30, which was ¥1,000 per share.
This pricing method ensures fairness and transparency while avoiding preferential treatment for recipients.
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