Morinaga MILK Industry TO ISSUE RESTRICTED STOCK AS COMPENSATION

TOKYO, Jul 17 (Pulse News Wire) – Morinaga Milk Industry CO.,LTD. (2264.T) resolved to issue restricted stock as compensation to six directors and five executive officers on July 17.

The restricted stock consists of 44,800 common shares valued at ¥1,202 per share, totaling ¥68.5 million. The shares will be transferred on August 10, 2026. Under the scheme, directors and executive officers will hold these shares for 30 years, aligning their interests with those of shareholders. The company's board approved the distribution of cash awards totaling ¥68.5 million to these individuals, which will be converted into restricted stock.

The restricted period begins on August 10, 2026, and ends on August 9, 2056. During this period, recipients cannot sell, pledge, or gift the shares without approval. In addition, the company stipulates that if a recipient leaves their position within the initial year, the shares will revert to the company free of charge. Shares held beyond the initial year but still subject to restrictions at the end of the term will also revert to the company.

The shares will be managed through accounts set up with SMBC Nikko Securities.