MegaChips Corporation [6875.T]
TOKYO, Jun 26 (Pulse News Wire) – MegaChips Corporation (6875.T) announced that it will dispose of restricted shares worth approximately $X million on July 24, 2026. The disposal involves 11,500 ordinary shares at a price of $X per share, totaling $X million.
The shares will be distributed among six directors and six executive officers who do not concurrently hold director positions. The purpose of this disposal is to incentivize sustained corporate value growth and enhance shareholder alignment. Under the newly introduced restricted stock compensation system, MegaChips granted monetary claims amounting to $X to eligible directors and executives.
In accordance with the agreement, these monetary claims will be converted into restricted shares upon approval during the 31st regular shareholders' meeting held on June 25, 2021. The restricted shares come with limitations on transfer until the holder ceases to occupy a predefined position within the company or its subsidiaries. However, the restrictions will be lifted once the individual fulfills their service obligations throughout the designated tenure.
For more detailed information, the company refers to the temporary report filed according to the Financial Instruments and Exchange Act.
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