TOKYO, May 27 (Pulse News Wire) – CORREC HOLDINGS Inc. (6578.T) resolved at its board meeting held on May 27 to issue restricted shares as part of executive compensation.
The issuance will take place on June 26, 2026, involving the distribution of ordinary shares totaling 73,500. Each share will be issued at a price of ¥436 per share, amounting to a total value of ¥32.0 million. This move follows the introduction of a restricted stock incentive program aimed at aligning executives' interests with shareholder value. Under this program, up to ¥100 million in cash compensation will be converted into restricted shares annually, with a cap of 73,500 shares per year.
The restricted period lasts until June 26, 2026, or until the end of the executive's term, whichever comes first. During this period, the shares cannot be transferred, pledged, or otherwise disposed of without approval from the board. Additionally, the company plans to adjust the number of restricted shares based on changes such as stock splits or consolidations post-resolution day. Shares not subject to restrictions by June 25, 2029, will be automatically acquired by the company free of charge.
The dilutive effect of this issuance is considered minor, representing approximately １% relative to the outstanding shares as of February 28, 2026.
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