TOKYO, Jun 22 (Pulse News Wire) – KOA Corporation (6999.NG) announced today that its board of directors approved the distribution of restricted shares as part of executive compensation. The transaction will take place on July 21, involving 9,900 ordinary shares valued at ¥2,930 per share, totaling ¥46.6 million.
Eight directors and six executives will receive the shares, which come with restrictions until their respective tenures end or they cease to hold positions within the company. Under the agreement, the restricted shares cannot be transferred, pledged, gifted, or otherwise disposed of during the restriction period, which begins on July 21, 2026.
The shares will be managed through accounts set up with SMBC Nikko Securities. Additionally, the company clarified that should an executive retire early due to valid reasons recognized by the board, the company would acquire the shares free of charge.
In cases where the tenure ends without such reasons, the restrictions will lift upon completion of the term, allowing unrestricted disposal of the shares.
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