ODAWARA AUTO-MACHINE MFG.CO.,LTD. [7314.T]
TOKYO, Mar 26 (Pulse News Wire) – Odawara Auto-machine Mfg.co.,ltd. (7314.T) announced that its board of directors held, approved the issuance of restricted stock as compensation.
The company plans to issue ordinary shares totaling 6,900 on April 24, 2026, at a price of ¥1,162 per share, amounting to a total value of ¥8.0 million. The shares will be allocated to four executive officers who will contribute their monetary compensation bonds as capital contributions. Under the Restricted Stock Compensation System introduced in February 2018, executives receive ordinary shares based on their performance and contribution to the company's sustained growth. Each officer will hold the shares subject to a vesting period until April 23, 2066, during which time they cannot sell, pledge, or otherwise dispose of the shares without meeting certain conditions.
Upon completion of the vesting period, the restrictions will be lifted, allowing the executives to fully own the shares. Additionally, the company and the participating executives will enter into individual Restricted Stock Allocation Agreements outlining the terms and conditions of the restricted stock allocation. These agreements specify that should an executive retire due to death, term expiration, or retirement age, the restriction period will be shortened accordingly. In such cases, the number of unrestricted shares will be determined based on the duration of service, calculated monthly from the payment date to the retirement date divided by twelve, rounded down to the nearest whole number.
Any remaining restricted shares will be acquired by the company free of charge.
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