JK Holdings to Distribute Restricted Shares to Executives on July 21

TOKYO, Jun 25 (Pulse News Wire) – JK Holdings CO.,LTD. (9896.T) announced that its board of directors held on June 25 decided to distribute restricted shares as part of a long-term incentive program.

The distribution will occur on July 21, involving ordinary shares totaling 26,800. Each share will be sold at ¥1,481 per share, resulting in a total amount of ¥39.7 million. The recipients include three non-audit committee directors and seven directors from another entity, collectively receiving the allocated shares. The purpose of this distribution is to incentivize and align interests among executives and promote shareholder value. The program was introduced during a board meeting on March 7, 2024, and approved by shareholders at the 77th annual general meeting on June 28, 2023. Under this scheme, annual monetary compensation up to ¥30 million is granted to eligible directors, with a cap on the number of issued shares at 30,000 annually.

Additionally, the restriction period for these shares is set at 50 years. Details of the allocation contract include a restriction period from July 21, 2026, to July 20, 2076. Restrictions will be lifted upon expiration or earlier if the recipient remains a director of either JK Holdings or another entity throughout the term. In case of retirement due to death, illness, or normal reasons, restrictions will be lifted accordingly. Should the restrictions not be lifted, JK Holdings will acquire such shares free of charge. During the restriction period, these shares will be managed in dedicated accounts opened with Nomura Securities to ensure compliance with the restrictions.