FURUNO ELECTRIC CO.,LTD. [6814.T]
TOKYO, Apr 09 (Pulse News Wire) – Furuno Electric CO.,LTD. (6814.T) introduced a performance-based restricted share plan aimed at aligning executive compensation with company performance.
The board approved the plan on April 09, 2026, and will seek shareholder approval at its annual general meeting scheduled for May 21, 2026. Under the new system, directors (excluding outside directors) will receive restricted shares based on their achievement of predefined performance targets during a three-year evaluation period from fiscal 2026 to 2028. The total amount of monetary claims payable to eligible directors will be capped at ¥300 million per performance cycle, which equates to approximately ¥100 million annually. Directors must agree to contribute the monetary claims towards acquiring restricted shares through a physical contribution method.
Additionally, the number of restricted shares allocated to each director will be limited to 150,000 shares per performance cycle, equivalent to up to 50,000 shares per fiscal year. The issuance price of the restricted shares will be determined based on the closing price of Furuno Electric's ordinary shares on the Tokyo Stock Exchange prior to the board resolution date. In case of death or resignation due to valid reasons before the delivery of shares, the company will deliver cash payments instead of shares according to a reasonable determination by the board. In the event of mergers or significant organizational changes affecting the company’s structure, the board reserves the right to adjust the number of restricted shares accordingly.
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