TOKYO, Jun 26 (Pulse News Wire) – Iridge,inc. (3917.T) announced plans to issue restricted shares to its executives as part of its incentive program.
The issuance, scheduled for July 24, involves the distribution of ordinary shares worth a total of ¥13.4 million. Each share will be priced at ¥405 per share, with the payment due on July 23, 2029. The shares will be allocated to four internal directors and one subsidiary director, totaling 33,000 shares. The initiative aims to enhance executive motivation and align their interests with shareholder value. Under the restricted stock award system introduced in 2021, executives will hold these shares for three years without the ability to sell or transfer them until the restrictions expire.
If an executive leaves during this period due to legitimate reasons such as retirement or death, the restrictions will be lifted immediately upon departure. Additionally, iRidge reserves the right to acquire any untransferred shares at no cost once the restriction period ends. To ensure compliance with the restrictions, the shares will be managed through a dedicated account at Nomura Securities. The company has entered into agreements with Nomura to enforce the conditions of the restricted stock awards. Any organizational restructuring involving iRidge would also lead to the lifting of restrictions and automatic acquisition of remaining shares by the company.
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