TOKYO, Jun 26 (Pulse News Wire) – NOZAWA CORPORATION (5237.T) announced today that its board of directors approved a share distribution plan aimed at rewarding executives through restricted stock grants. The plan involves distributing ordinary shares worth approximately ¥21.0 million to ten internal directors based on their contributions and performance.
The shares will be distributed on July 22, 2026, at a price of ¥1,215 per share. Each director will receive a cash compensation bond totaling ¥21.0 million. Upon acceptance of these bonds, the directors will be allocated specific restricted shares amounting to 17,281 ordinary shares. The allocation will take place within the period from the 166th Ordinary General Meeting of Shareholders scheduled for July 22, 2026, to the 167th Ordinary General Meeting of Shareholders planned for June 2027.
Under the agreement, the restricted period runs from July 22, 2026, until the directors' tenure ends. During this time, directors cannot sell, pledge, or otherwise dispose of the allotted shares without valid reasons recognized by the board. If a director resigns during this period, the company reserves the right to reclaim the shares free of charge, except in cases deemed reasonable by the board. The shares will be managed through accounts set up with SMBC Nikko Securities Co., Ltd.
Additionally, in the event of significant organizational changes such as mergers or restructurings, the board retains the authority to lift restrictions on a portion of the shares based on the duration of the director's service.
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