TOKYO, Jun 23 (Pulse News Wire) – EDP Corporation (7794.T) resolved to issue restricted shares as compensation during its board meeting held. The issuance involves 8,000 ordinary shares with a payment due date set for July 17, 2026.
Each share will be priced at ¥1,208 per share, totaling an issuance amount of ¥9.7 million. This move follows the introduction of a stock option scheme approved at the company's 14th regular shareholders' meeting on June 23, 2023, aimed at aligning executive interests with shareholder value. The scheme limits the total monetary compensation to ¥60 million annually, with external directors receiving up to ¥12 million. The restricted shares will be allocated based on individual contributions and performance, subject to agreements signed by the recipients.
The restricted period runs from July 17, 2026, to July 16, 2028. During this time, executives cannot transfer their shares without approval. Should an executive resign or retire within two years of the initial allocation, the company reserves the right to reclaim those shares free of charge, except in cases deemed valid by the board. Upon completion of the restriction period, the shares will be freely tradable if the recipient remains employed by the company throughout the term.
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