FUKUVI CHEMICAL INDUSTRY CO.,LTD. [7871.T]
TOKYO, Jun 18 (Pulse News Wire) – Fukuvi Chemical Industry CO.,LTD. (7871.T) resolved today to distribute restricted shares as part of its performance-based compensation plan.
The distribution, set for July 10, involves issuing ordinary shares worth a total of ¥62.7 million to four directors and thirteen executive officers. Each share will be priced at ¥896. This move follows the company's decision in May 14, 2019, to introduce a restricted stock award system aimed at enhancing long-term corporate value and fostering greater alignment with shareholders. In addition, the board approved similar arrangements for executives in June 20, 2023.
The latest resolution takes into account the company’s performance and the responsibilities of the recipients, providing incentives tied to their continued roles within the organization. Under the agreement, the awarded shares will be subject to restrictions until the recipient leaves their position at the company or its subsidiaries. Should the conditions be met, the restrictions will lapse upon completion of the holding period. Any untransferred shares will revert to the company free of charge once the restriction period ends.
The shares will be managed through a dedicated account at Nomura Securities during the restriction period to ensure compliance with the terms.
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