TOKYO, Apr 16 (Pulse News Wire) – LINTEC Corporation (7966.T) announced today that its board of directors resolved to distribute restricted shares as part of a stock compensation program for executives. The distribution will occur on May 11, involving ¥1.2 million ordinary shares at a price of ¥1,000 per share, totaling ¥1.2 billion.
The shares will be allocated to 20 executive officers. The purpose of this initiative is to align the interests of executives with those of shareholders by promoting self-shareholding among management. This includes adding external directors to the scope of the program, which was previously limited to internal directors. The restricted shares come with a 30-year holding period during which they cannot be transferred without valid reasons recognized by the board.
Under the agreement, if an executive resigns within the initial fiscal year without a legitimate reason, LINTEC will acquire the shares free of charge. Full lifting of restrictions occurs upon completion of the initial fiscal year or earlier if certain conditions are met. All restricted shares will be managed through accounts set up with SMBC Nikko Securities. This move underscores LINTEC's commitment to enhancing shareholder value and fostering long-term growth.
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