Choei Approves Restricted Share Awards for Executives and Directors

TOKYO, Jun 25 (Pulse News Wire) – Choei Inc. (2993.T) announced that its board of directors approved the distribution of restricted shares as part of a compensation plan.

The company plans to issue ordinary shares worth approximately ¥405.9 million to three directors and eight executives on July 15, 2026. Each share will be priced at ¥2,103. Under the plan, the restricted shares will be subject to a holding period until the recipients retire or resign from their positions within the company.

The shares will be managed through SMBC Nikko Securities Co., Ltd. According to the agreement, if any recipient leaves the company during the restriction period, the company will acquire the untransferred shares free of charge based on a formula tied to the duration of service. In addition, the company clarified that the share price was determined based on the closing price of Choei Inc.'s stock on the Tokyo Stock Exchange on June 24, 2026, which was deemed fair and reasonable.