TOKYO, Apr 13 (Pulse News Wire) – Nippon Shikizai,inc. (4920.T) announced today that its board of directors has approved the introduction of a restricted share compensation plan aimed at enhancing corporate value and fostering greater alignment with shareholders.
Under the plan, eligible directors will receive either ordinary shares or cash-settled share awards totaling up to ¥50 million per year, while audit committee members will receive up to ¥10 million annually. The restricted shares will be subject to vesting conditions prohibiting transfers to third parties for a certain period. Additionally, the company reserves the right to repurchase such shares without payment upon the occurrence of specific events.
The issuance of these shares will be governed by agreements between the company and individual directors, which will detail restrictions and vesting schedules. The proposed changes require shareholder approval at the upcoming annual general meeting scheduled for May 28, 2026. Detailed implementation timelines and distribution specifics will be determined based on recommendations from the remuneration committee and consultations with audit committee members.
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