Daio Paper Corporation [9388.F]
TOKYO, May 25 (Pulse News Wire) – PapaNets Co., Ltd. (9388.T) announced today that its board of directors has approved the distribution of restricted shares as part of its stock compensation program.
The distribution, set to occur on June 10, involves transferring ordinary shares worth a total of ¥27.9 million among six executives and four employees. Each share will be valued at ¥1,382. Under the program, executives will receive restricted shares aimed at aligning their interests with those of shareholders.
The restrictions prevent the sale or pledge of these shares until certain conditions are met, such as continued employment or resignation without reappointment within a year. In case of death, the company will acquire a portion of the shares based on the duration of service. The valuation of the shares was determined based on the closing price of PapaNets' ordinary shares on the Fukuoka Stock Exchange on May 22, 2025, which stood at ¥1,382.
This price reflects the fair market value and does not offer any undue advantage to either party involved.
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