TOKYO, Apr 24 (Pulse News Wire) – Nichirin CO.,LTD. (5184.T) resolved today to distribute restricted shares as part of its stock compensation program.
The distribution will take place on May 22, 2026, involving 1,100,000 ordinary shares valued at ¥1,000 per share, totaling ¥1,100,000,000. The shares will be allocated to five directors and six executive officers. Under the company's restricted stock award system, which was introduced in February 2019 and approved by shareholders in March 2025, the shares come with restrictions prohibiting their sale until the end of the restriction period on May 21, 2056. The restrictions will be lifted upon continuous service as a director, auditor, or executive throughout the restriction period.
In case of resignation or death prior to the expiration, partial lifting of restrictions based on tenure will apply. Additionally, the company will manage the restricted shares through Mizuho Securities, ensuring they remain in a dedicated account until the restrictions are lifted. Any untransferred shares will be acquired by Nichi Rin without payment. The distribution price of ¥1,000 per share is based on the closing price of Nichi Rin’s ordinary shares on the Tokyo Stock Exchange on April 23, 2026, deemed fair and reasonable by the board.
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