Ifuji Sangyo Co.,Ltd. [2924.T]
TOKYO, Jun 25 (Pulse News Wire) – Ifuji Sangyo CO.,LTD. (2924.F) resolved to distribute restricted shares to four executives during a board meeting held on June 25, 2026.
The distribution, set for July 23, 2026, involves transferring ordinary shares totaling 14,200 at a price per share of ¥2,060, resulting in a total value of ¥29.3 million. Under the company's restricted stock compensation program approved in June 2023, executives receive equity grants tied to performance-based cash awards within an annual limit of ¥60 million. Each executive’s allocation and timing are determined by the board.
The shares come with restrictions lasting up to 50 years, allowing transfers only upon continued service or specific conditions such as retirement or death. The restricted shares will be managed through a dedicated account at Nomura Securities during the restriction period. Upon expiration of the restrictions, Ifuji Sangyo retains the right to reclaim the shares without payment.
The distribution price was based on the closing price of Ifuji Sangyo's ordinary shares on the Tokyo Stock Exchange on June 24, 2026, which was deemed fair and objective by the board.
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