Kitagawa Grants Restricted Shares to Executives

TOKYO, Jul 17 (Pulse News Wire) – Kitagawa Corporation (6317.T) announced that it has decided to grant restricted shares to its executives through a resolution made at a board meeting held on July 17. The issuance involves 11,600 ordinary shares with a total value of ¥19.6 million.

Payment for the shares is due on August 7, 2026. The individual share price is set at ¥1,687 per share based on the closing price of Kitagawa's ordinary shares on the Tokyo Stock Exchange on July 16, which was ¥1,687. The shares will be distributed among three directors and six appointed executive officers. This move aims to incentivize long-term growth and align interests with shareholders.

The restricted period lasts until the respective individuals lose their positions as directors or appointed executive officers, with conditions tied to continued service during the initial year post-issuance. During the restriction period, the shares cannot be transferred, pledged, or otherwise disposed of without approval. Upon completion of the one-year service requirement, restrictions will be lifted, allowing for full transferability. In cases of early termination due to death or other valid reasons, partial lifting of restrictions may apply based on months served.