TOKYO, Mar 19 (Pulse News Wire) – HENNGE K.K. (4475.T) resolved at its board meeting today to issue stock options to its employees and those of its subsidiaries to incentivize long-term growth and enhance shareholder value.
Under the resolution, HENNGE will issue a total of 3,560 stock options, each exercisable for 100 ordinary shares. The exercise price per share will be determined based on the average closing prices of HENNGE's ordinary shares on the Tokyo Stock Exchange over the month preceding the allocation date, rounded up to the nearest whole number. Adjustments to the exercise price will be made if the company undergoes certain transactions such as mergers, spin-offs, or rights issues.
Stock option holders must remain employed by HENNGE or its subsidiaries during the entire vesting period, which runs from March 20, 2029 to December 31, 2032. Any fractional shares resulting from exercising the options will be disregarded. Additionally, HENNGE decided to increase the annual limit for issuing stock options under its tax-qualified employee stock option program due to expanding operations and organizational strengthening.
The new cap stands at 5,200 options per fiscal year, up from the previous limit of 3,200 options.
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