TOKYO, Jun 17 (Pulse News Wire) – IWATANI Corporation (8088.T) announced today that its board of directors resolved to distribute restricted share awards to eight executives on July 16, 2026. The distribution involves ordinary shares valued at ¥1,857 per share, totaling ¥72.4 million.
This move follows the introduction of a restricted stock award system in April 2019 aimed at providing long-term incentives and aligning executive interests with shareholder value. Under this program, executives receive equity grants tied to performance-based conditions and subject to a 30-year holding period. The company's board decided to issue these awards based on the executives' contributions and future potential, utilizing principal debt securities worth ¥72.4 million. The restricted stock grant agreement stipulates a vesting period from July 16, 2026, to July 15, 2056, with restrictions lifted upon continued service until the end of the term.
In case of retirement due to normal reasons, the lifting of restrictions will occur immediately post-retirement, except in cases of death, where it will take effect according to a separate decision by the board. Additionally, should significant organizational changes such as mergers or spin-offs occur during the restriction period, certain provisions allow for early release of restrictions and subsequent acquisition by the company. The valuation of the distributed shares is determined based on the closing price of IWATANI’s ordinary shares on the Tokyo Stock Exchange on June 16, 2026, which was set at ¥1,857. This ensures fairness and avoids any undue advantage to the recipients.
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