NAGOYA ELECTRIC WORKS CO.,LTD. [6797.T]
TOKYO, Jun 23 (Pulse News Wire) – Nagoya Electric Works CO.,LTD. (6797.NG) resolved to issue restricted stock compensation to its directors and executive officers who do not hold director positions.
The resolution was made during a board meeting held. The company plans to distribute ordinary shares totaling 18,400 on July 15, 2026, at a price of ¥1,153 per share, amounting to a total value of ¥21.2 million. This distribution includes five directors and two executive officers who do not serve as directors. The purpose of this initiative is to align their interests more closely with those of shareholders and enhance their motivation to contribute to the company's growth.
Under the agreement, the restricted period for these shares extends until July 14, 2066. During this time, recipients cannot sell, pledge, or otherwise dispose of the shares without valid reasons recognized by the board. Should a recipient resign within the initial period leading up to the next annual general meeting, the company reserves the right to acquire the shares free of charge, subject to certain conditions. Furthermore, the company outlined detailed provisions for managing and transferring these shares, ensuring compliance with organizational restructuring events and maintaining transparency throughout the process.
The valuation of the shares distributed is based on the closing price of Nagoya Electric Works' ordinary shares on the Tokyo Stock Exchange on June 22, 2026, which was set at ¥1,153.
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