TOKYO, May 21 (Pulse News Wire) – Lognet Japan (9027.T) announced today that its board of directors has decided to abolish the retirement allowance plan for executives and introduce a restricted share compensation system. The changes will take effect upon approval at the company's upcoming annual shareholders' meeting scheduled for June 24.
Under the new policy, executives who continue their service until the conclusion of the shareholders' meeting will receive lump-sum payments corresponding to their tenure up to that point. Additionally, the company plans to seek shareholder approval for granting executives restricted shares valued up to ¥70 million annually.
The restricted shares will come with vesting conditions tied to continued employment, ensuring alignment with long-term corporate goals and enhancing value-sharing with shareholders. The restricted share program includes provisions for forfeiture if executives leave before completing their designated service period.
Shares will also be subject to restrictions on transferability during a defined holding period, which may be adjusted based on certain organizational restructuring events.
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