KITOKU SHINRYO CO.,LTD. [2700.T]
TOKYO, Apr 23 (Pulse News Wire) – Kitoku Shinryo CO.,LTD. (2700.T) resolved to issue restricted stock as compensation to its directors on April 23, 2026.
The company plans to distribute ordinary shares worth a total of ¥18.6 million at a price of ¥1,961 per share among seven directors. This issuance follows the introduction of a restricted stock compensation program aimed at incentivizing long-term value creation and aligning interests with shareholders. The program was approved during the regular general meeting held on March 28, 2024, and further detailed in the board resolution dated February 15, 2024. Under this scheme, directors will contribute monetary bonds totaling ¥18.6 million as capital contributions in exchange for ordinary shares.
The restricted period for these shares extends from April 23, 2026 to May 21, 2056. During this time, directors cannot sell or pledge their shares without meeting certain conditions, such as continuous service with the company or its subsidiaries. In case of misconduct or resignation due to valid reasons, the restrictions may be lifted earlier based on tenure served. Kitoku Shinryo also outlined procedures for managing these shares through Nomura Securities' dedicated accounts to ensure compliance with the restrictions.
The distribution price is set based on the closing price of the company's shares on the Tokyo Stock Exchange on April 22, 2026, ensuring fairness and transparency.
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