TOKYO, Apr 16 (Pulse News Wire) – Nova System CO.,LTD. (5257.T) announced today that its board of directors resolved to distribute restricted stock awards to three executives as part of its equity compensation program.
The distribution, scheduled for May 15, 2026, involves the issuance of ordinary shares worth a total of ¥2.6 million. Each share will be priced at ¥2,557 per share. The purpose of this initiative is to enhance executive engagement and align their interests with those of shareholders, aiming to sustainably increase the company's value over the long term. Under the restricted stock award scheme, the recipients will hold the shares subject to certain restrictions until either their departure from the company or the submission of the semi-annual report for the fiscal year in which the shares are issued. Full transferability of the shares will be contingent upon continued service during the vesting period, which spans from the day immediately preceding the annual general meeting prior to the issue date through the conclusion of the next annual general meeting.
In cases of premature termination due to valid reasons or death, partial lifting of restrictions will apply based on the duration of service. Additionally, the company has established conditions for automatic forfeiture of unvested shares should the executives resign without just cause within the restriction period. Special provisions also address the handling of organizational restructuring events occurring during the restriction period, ensuring alignment with shareholder interests. All awarded shares will be held in dedicated accounts managed by Mizuho Securities Co., Ltd. until the restrictions are lifted.
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