Mizuno to Distribute Restricted Shares to Executives on July 23

TOKYO, Jun 24 (Pulse News Wire) – Mizuno Corporation (8022.T) announced that it will distribute restricted shares to executives on July 23, 2026. The distribution involves ordinary shares totaling 27,812 and will be valued at ¥3,360 per share, resulting in a total amount of ¥93.4 million.

The shares will be distributed among four non-outsider directors and nine executive officers who do not concurrently hold director positions. This move aligns with the company's long-term incentive program introduced in May 2018, aimed at enhancing motivation and promoting shareholder value alignment. Under the program, the restricted shares come with a ten-year holding period until July 22, 2036. During this period, recipients cannot sell, pledge, or otherwise dispose of the shares without meeting specific conditions outlined in the agreement.

The shares will be managed through a dedicated account at Nomura Securities Co., Ltd., ensuring compliance with restrictions. In case of resignation due to reasons such as retirement or completion of service, the shares will be released based on tenure calculations. Upon expiration of the restriction period, Mizuno retains the right to acquire the sharesfree of charge. This distribution follows the company’s commitment to fostering long-term growth and aligning interests between management and shareholders.