KOHNAN SHOJI CO.,LTD. [7516.T]
TOKYO, Jun 15 (Pulse News Wire) – Kohnan Shoji CO.,LTD. (7516.T) announced today that its board of directors has decided to distribute restricted share awards on July 14, 2026.
The distribution involves ordinary shares totaling 4,500 and will occur through a third-party allocation method. Each share will be valued at ¥4,185, resulting in a total value of ¥18.8 million. The shares will be distributed to eight executive directors, excluding external directors, as part of their compensation for enhancing the company's long-term value and fostering greater alignment with shareholders. Under the restricted share award system, approved by shareholders in May 2017 and May 2021, executives receive monetary rewards that can be converted into restricted shares.
The restriction period for these shares ranges from one to three years, determined by the board. In this instance, the restriction period begins on July 14, 2026 and ends either upon the director’s departure from their position or when the semi-annual report for the fiscal year containing the payment date is submitted, whichever is later. Additionally, the company outlined key provisions of the award agreement, including conditions for lifting restrictions based on continued service and procedures for handling early departures due to valid reasons such as retirement or death. Shares subject to restrictions will be managed in dedicated accounts at Mizuho Securities to ensure compliance with the terms set forth in the agreement.
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