TOKYO, May 26 (Pulse News Wire) – Parker Corporation (9845.T) announced today that its board of directors has resolved to amend its restricted share compensation plan for the upcoming 99th Ordinary General Meeting of Shareholders scheduled for June 25. Under the revised plan, the total monetary compensation granted to eligible directors through restricted shares will be increased from up to ¥10 million per annum (with ¥2 million allocated to outside directors) to up to ¥20 million per annum (including ¥7 million for outside directors).
This adjustment reflects efforts to enhance value-sharing with shareholders and account for the appreciation in the company's stock price. Currently, the company has six directors, two of whom are outside directors.
Should the proposal to appoint seven directors, three of whom would be outside directors, pass at the annual meeting, the changes outlined will apply accordingly. This amendment seeks to align executive remuneration more closely with shareholder interests while acknowledging the growth in the company’s equity valuation since the initial approval of the plan in June 2021.
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