TOKYO, Jun 23 (Pulse News Wire) – CANOX CORPORATION (8076.NG) announced today that its board of directors approved the issuance of restricted stock awards to seven directors and one executive officer. The awards consist of 8,400 ordinary shares, with each share valued at the closing price of CANOX's ordinary shares on the Tokyo Stock Exchange on June 22, 2026, which was set at ¥1,982.
The restricted stock awards are part of the company’s incentive program aimed at promoting sustainable growth and fostering greater value alignment with shareholders. Under the program, the shares cannot be transferred until July 22, 2026, or until the recipient leaves their position, whichever comes later. However, if the recipient remains continuously employed through March 2027, the restrictions will fully lift upon completion of the annual general meeting. Additionally, CANOX will acquire the restricted shares free of charge if the recipients resign or retire due to reasons other than normal retirement or death during the restriction period.
The company also reserves the right to reclaim shares if the recipients violate laws or regulations during the same period. Separately, CANOX entered into individual restricted stock award agreements with each recipient detailing the conditions and management requirements for the awarded shares. These agreements stipulate that the shares must be held in designated accounts managed by Tokai Tokyo Securities Co., Ltd. until the restrictions are lifted.
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