TOKYO, Apr 28 (Pulse News Wire) – Kureha Corporation (4023.T) announced today that its board of directors has approved the distribution of restricted shares as part of its share-based compensation program. The company plans to issue ordinary shares worth ¥3,890 per share on May 28, 2026, totaling ¥11.7 million.
The shares will be distributed among five executives, amounting to 3,006 shares. This move aims to incentivize long-term value creation and enhance alignment with shareholders' interests. The restricted shares come with vesting conditions tied to continued service as either a director or executive officer until March 31, 2027. Full transferability will be granted upon meeting these conditions or partial release based on tenure if early termination occurs due to death or other valid reasons recognized by the board.
The allocation represents 0.006% of the outstanding shares as of March 31, 2026, resulting in a minor dilution rate deemed reasonable considering the objectives of the program. Payment for the shares will be made based on the closing price of Kureha's stock on the Tokyo Stock Exchange on April 27, 2026, which was set at ¥3,890 per share. Under the agreement, the restricted shares will be managed through a dedicated account at Nomura Securities during the restriction period. In case of significant organizational changes such as mergers or spin-offs, the board reserves the right to adjust the vesting schedule accordingly.
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