TOKYO, Mar 27 (Pulse News Wire) – CONVUM Ltd. (6265.T) announced today that its board of directors approved the issuance of restricted share awards as part of a stock compensation program.
The shares will be distributed on June 01, 2026 with a total of [16,600] ordinary shares being allocated. Each share will be valued at [¥2,675], resulting in a total distribution amount of [¥44.4 million]. The purpose of this program is to incentivize executives and employees to contribute to the sustained growth of the company's value and enhance shareholder alignment. The restricted shares will be granted to one executive and 84 employees. The shares come with a three-year holding period beginning on June 1, 2026, during which time recipients cannot sell, pledge, gift, or otherwise dispose of the shares without permission. Under the terms of the agreement, restrictions on the shares will be lifted upon completion of the three-year period, contingent on continued employment.
Should an employee resign or retire due to valid reasons or pass away within the restriction period, the lifting of restrictions would occur immediately following their departure. In addition, should significant organizational restructuring occur during the restriction period, such as mergers or spin-offs, the company reserves the right to lift restrictions early based on board approval. Recipients are required to hold the awarded shares in a dedicated account managed by Mizuho Securities Co., Ltd. until restrictions are lifted. The valuation price for the shares was determined based on the closing price of CONVUM Ltd.'s ordinary shares on the Tokyo Stock Exchange on March 26, 2026, which was set at [¥2,675]. This price reflects the fair market value prior to the board’s decision and is considered reasonable and non-favorable.
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