Maruha Nichiro Corporation [1333.T]
TOKYO, Mar 30 (Pulse News Wire) – Maruha Nichiro Corporation (1333.T) announced today that its board of directors has approved expanding its employee stock grant plan, known as the Share Grant Trust (J-ESOP), to include additional management-level staff members effective from April 1, 2026. The expansion aims to enhance alignment between employee performance and company stock price, fostering greater long-term value creation awareness among participating employees.
Launched in 2023, the J-ESOP initiative provides eligible employees with shares of Maruha Nichiro based on their position and company performance metrics. Under the expanded program, domestic non-resident managers will also qualify for participation.
The trust scheme, modeled after the US ESOP system, involves pre-acquiring company shares through a trust managed by Mizuho Trust Bank, which will distribute the shares to beneficiaries meeting certain criteria outlined in the share grant regulations. Key details of the expanded J-ESOP include: - Name: Share Grant Trust (J-ESOP) - Trustee: Mizuho Trust Bank Co., Ltd.
(sub-trustee: Nippon Custodian Bank Co., Ltd.) - Beneficiaries: Eligible employees who meet stipulated conditions - Type of Trust: Non-cash money trust (beneficial trust) - Purpose: To distribute company shares to beneficiaries according to the share grant regulations - Contract Signing Date: November 13, 2023 - Money Entrusted Date: November 13, 2023 - Duration: From November 13, 2023 until the termination of the program This move supports Maruha Nichiro's mid-term strategy "For the Ocean, for Life 2027," aiming to accelerate progress towards achieving its goals while aligning employee incentives with shareholder interests.
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