TOKYO, Jun 19 (Pulse News Wire) – GMB Corporation (7214.T) announced that its board of directors, held, approved the issuance of restricted shares as part of its compensation program. The company will issue ordinary shares worth ¥948 per share, totaling ¥15.3 million.
These shares will be allocated to five executive officers and three non-executive directors who will hold them until July 17, 2056, subject to certain conditions. Under the program, executives must remain employed by GMB or its subsidiaries throughout the restriction period to fully unlock their shares. In case of retirement due to reasons other than death, the restrictions will be lifted immediately upon departure.
Should an executive retire due to death, the restrictions will be lifted once the board decides on a subsequent date. Additionally, the company will acquire any untransferred shares free of charge upon the expiration of the restriction period or upon the occurrence of specific events such as organizational restructuring. The shares will be managed through a dedicated account at Nomura Securities to ensure compliance with the restrictions.
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