Galilei Approves Share Disposition for Executives on Aug 21

TOKYO, Jul 24 (Pulse News Wire) – Galilei Co.ltd. (6420.T) announced that its board of directors approved the repurchase of restricted shares for executives on August 21, 2026.

The company plans to repurchase ordinary shares totaling 31,109 at a price of ¥3,285 per share, resulting in a total repurchase amount of ¥102.2 million. The repurchased shares will be distributed among five non-audit committee directors and three audit committee directors. The purpose of this repurchase is to incentivize long-term value creation and enhance alignment with shareholders' interests. The approval follows the company's 71st regular general meeting held on June 27, 2022, which endorsed the restricted stock compensation program.

Under the program, directors receive cash awards convertible into company shares based on their performance. The conversion price is determined based on the closing price of Galilei Co.ltd.'s ordinary shares on the Tokyo Stock Exchange on the day preceding the board resolution, ensuring fairness and transparency. In this case, the conversion price was set at ¥3,285 per share, reflecting the fair market value on July 23, 2026. Additionally, the company entered into a restricted stock grant agreement with the recipients, stipulating that the shares cannot be transferred until August 21, 2026, or upon resignation due to retirement or other legitimate reasons.

The agreement also includes provisions for acquisition by the company if the recipient engages in illegal activities during the restriction period.