FURUNO ELECTRIC CO.,LTD. [6814.T]
TOKYO, May 21 (Pulse News Wire) – Furuno Electric CO.,LTD. (6814.T) resolved today to distribute restricted shares as part of its executive compensation plan.
The distribution will occur on June 9, involving 1,780 shares for four directors and 2,000 shares for seven executives, priced at ¥5,850 per share, totaling ¥22.1 million. Under the agreement, directors will hold their shares until the next annual shareholders' meeting, while executives must retain theirs through the end of the fiscal year. Both groups face restrictions on transferring, pledging, or gifting these shares during the designated periods.
If either group leaves their positions early without valid reasons, Furuno reserves the right to reclaim the shares free of charge. The company also outlined procedures for managing these shares, requiring recipients to maintain them in accounts managed by SMBC Nikko Securities. In case of significant organizational changes such as mergers, Furuno retains the authority to lift restrictions based on the timeline of events, allowing for potential early release of some shares.
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