TOKYO, Mar 27 (Pulse News Wire) – Okabe CO.,LTD. (5959.T) resolved today to distribute restricted shares to its executives as part of its long-term incentive program.
The company's board meeting on March 27 approved the distribution of 50,650 ordinary shares to three directors, eight executive officers without director roles, and one fellow. The shares will be transferred on April 24, 2026, with each share valued at ¥970. The total value of the transaction is ¥49.1 million. This initiative stems from decisions made during previous meetings held on February 12, 2021, and March 26, 2021.
The aim is to enhance the company’s long-term enterprise and shareholder value while fostering greater alignment with shareholders. Under the restricted stock grant program, recipients cannot sell or pledge their shares until they either resign or retire from their positions within two years post-distribution. Additionally, the shares will be managed through special accounts set up at Nomura Securities Co., Ltd. during the restriction period to ensure compliance with the conditions outlined in individual agreements between the company and the recipients.
Any shares remaining under restrictions upon expiration will be acquired by the company.
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