HOSHIZAKI CORPORATION [6465.T]
TOKYO, Apr 16 (Pulse News Wire) – Hoshizaki Corporation (6465.T) resolved to distribute restricted shares worth over ¥1 billion among its executives and directors during a board meeting held. The distribution will take place on May 15, 2026, involving ordinary shares totaling 30,500.
Each share will be priced at ¥5,265, resulting in a total amount of ¥160.6 million. The shares will be distributed to six directors and nine non-executive officers who do not concurrently hold director positions, along with 36 directors from wholly-owned subsidiaries and five non-executive officers from wholly-owned subsidiaries. Additionally, shares will also be allocated to directors and non-executive officers from several wholly-owned subsidiaries and wholly-owned grandchild companies. This move follows the introduction of a restricted stock compensation system aimed at enhancing sustained corporate value and promoting shareholder value through incentives for directors and executive officers.
The system was approved in 2018 and further expanded to cover non-director executive officers in 2020, and later extended to directors and officers of newly established wholly-owned subsidiaries in 2023. Under the agreement, recipients will be subject to a three-year to thirty-year restriction period during which they cannot sell, pledge, or otherwise dispose of the shares. Upon completion of the restriction period, the company will acquire the remaining undistributed shares free of charge. The distribution price is based on the closing price of Hoshizaki's ordinary shares on the Tokyo Stock Exchange Prime Market on April 15, 2026, which was set at ¥5,265 per share.
🟢 Confidence: High AI-translated content.