TOKYO, Jun 15 (Pulse News Wire) – Classico,inc. (442A.T) resolved at its board meeting held on June 15 to grant free stock options to directors and employees based on their performance and dedication.
The company plans to issue options to two directors and 14 employees for the sixth issuance, and one director and one employee for the seventh issuance. The total number of ordinary shares that could increase upon exercise of all options would be 44,900 shares (37,200 for the sixth issuance and 7,700 for the seventh). Exercise prices for the options will be determined based on the average closing price of Classico's common stock on the Tokyo Stock Exchange in the month prior to the option issuance date, adjusted upwards by 5%. In case of share splits or consolidations post-granting, adjustments will be made accordingly.
For the sixth issuance, 372 options will be granted without requiring monetary payment. Each option entitles the holder to purchase 100 ordinary shares at the exercise price. The options can be exercised until June 30, June 30, 2029. Additional conditions apply for exercising the options, such as maintaining employment status with Classico or its subsidiaries during the vesting period.
Failure to meet these conditions or engaging in activities deemed detrimental to the company’s interests could result in forfeiture of the options.
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