Nippon Carbide Industries Carbide to Distribute Restricted Shares to Executives on July 17

TOKYO, Jun 26 (Pulse News Wire) – Nippon Carbide Industries Company,incorporated (4064.T) resolved to distribute restricted shares as part of executive compensation on June 26. The distribution will occur on July 17, involving 2,000,000 ordinary shares at a price of ¥1,000 per share, totaling ¥2 billion.

The shares are being distributed to three directors and four executives who will give up cash compensation in exchange for equity. The restricted shares come with conditions prohibiting transfers until July 17, 2026, or upon their departure from director or executive roles.

Additionally, the company retains the right to reclaim untransferred shares without payment. This move follows the introduction of a restricted stock compensation system approved by shareholders in April 2022, aimed at aligning executive incentives with long-term shareholder value.

The total cash compensation amounting to ¥150 million was determined based on company performance and individual responsibilities.