Furubayashi Shiko Co.,Ltd. [3944.T]
TOKYO, Apr 22 (Pulse News Wire) – Furubayashi Shiko CO.,LTD. (3944.T) announced today that its board of directors approved restricted share awards totaling ¥39.1 million as part of ongoing governance reforms aimed at aligning executive compensation with shareholder value.
The awards, set to be distributed on May 21, consist of ordinary shares valued at ¥2,415 per share. The distribution targets four internal directors and seven executives, with a total of 16,200 ordinary shares being allocated. The restricted share program was introduced in February 2020 to enhance alignment between executive performance and shareholder interests.
Under the scheme, recipients cannot sell, pledge, gift, or otherwise dispose of their shares during the restriction period, which runs from the issuance date until their retirement or departure due to legitimate reasons. Exceptions apply upon death, allowing immediate release of restrictions. Additionally, the company clarified conditions for lifting restrictions, such as organizational restructuring events involving mergers or spin-offs, where approval would lead to early removal of restrictions followed by automatic acquisition of remaining shares by the company.
In conjunction with these measures, Furubayashi Shiko mandated that awarded shares be held in designated accounts managed by securities firms specified by the company until restrictions are lifted.
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