HIKARI BUSINESS FORM CO.,LTD. [3948.T]
TOKYO, Apr 07 (Pulse News Wire) – Hikari Business Form CO.,LTD. (3948.T) announced today that its board of directors resolved to sell restricted stock as compensation to three executives.
The sale will take place on April 24, 2026, involving 6,440 ordinary shares at a price of ¥1,203 per share, totaling ¥7.7 million. This transaction follows the introduction of a restricted stock compensation program aimed at incentivizing long-term value creation and aligning interests with shareholders. Under this program, executives receive equity awards subject to vesting conditions tied to their continued service until their retirement or resignation within six months post the fiscal year of issuance.
The restricted stock agreement stipulates that the shares cannot be transferred, pledged, or otherwise disposed of during the restriction period, which runs from April 24, 2026, to the executive's departure date, contingent upon meeting certain performance criteria. In case of premature termination due to death or valid reasons recognized by the board, partial lifting of restrictions applies based on tenure served. Furthermore, the company will purchase unvested shares at no cost upon expiration of the restriction period.
Shares will be managed through a dedicated account at Daiwa Securities during the restriction phase to ensure compliance with the imposed limitations.
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