Chubu Steel Plate to Distribute Restricted Shares to Executives

TOKYO, Jun 25 (Pulse News Wire) – Chubu Steel Plate CO.,LTD. (5461.NG) announced that its board of directors resolved to distribute restricted shares as part of an equity compensation plan.

The distribution, set for June 25, 2026, involves transferring 12,424 ordinary shares to six executives, valued at ¥1,946 per share, totaling ¥24.2 million. The shares come with restrictions prohibiting transfers until July 10, 2026. The purpose of this initiative is to align executive interests with shareholder value, encouraging contributions to stock price appreciation and corporate growth.

The restricted period spans from June 25, 2026 to July 10, 2026, during which executives cannot sell, pledge, or gift these shares without valid reasons approved by the board. Upon completion of the restriction period, or upon resignation due to legitimate causes, the company retains the right to reclaim the shares free of charge. Additionally, the company outlined procedures for managing these shares through SMBC Nikko Securities, ensuring compliance with regulatory requirements and maintaining transparency throughout the process.