NITTO DENKO CORPORATION [6988.T]
TOKYO, Apr 27 (Pulse News Wire) – Nitto Denko Corporation (6988.T) announced today that its existing mid-term performance-based compensation plan ("Current Plan") will be discontinued following the introduction of a new share-based incentive program effective for the evaluation period ending June 20, 2025. Additionally, the board approved changes to the Current Plan for the transition period covering April 1, 2024 to March 31, 2028.
Under the amendments, the number of shares allocated under the Current Plan for various executive positions will be adjusted as follows: | Position | Current Allocation | New Allocation | |---------------------|-------------------|---------------| | Chairman | Not Applicable | 27,000 | | President | 27,000 | 27,000 | | Executive Vice President | 9,500 | 9,500 | | Senior Executive Officer | 8,000 | 8,000 | | Senior Managing Director | 5,000 | 5,000 | | Executive Officer | 4,000 | 4,000 | Notably, the adjustment includes setting a delivery benchmark stock count for the newly appointed Chairman, Hiroyasu Takasaki, effective April 1, 2026. Furthermore, the revised allocation figures reflect post-stock split adjustments made on September 30, 2024, with the new allocations taking effect from October 1, 2024.
Detailed calculation methods for both transition periods will be disclosed in the upcoming quarterly report for fiscal 2024 and a special report dated June 20, 2025. Corrections to the latter will also be published in a corrected special report released today.
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