Premium Group Co.,Ltd. [7199.T]
TOKYO, May 26 (Pulse News Wire) – Premium Group CO.,LTD. (7199.T) announced today that its board of directors held on May 26 decided to amend its equity-based compensation plan for executives.
The revised plan includes performance conditions and allows for the issuance of restricted stock awards without requiring cash payment or monetary claims as consideration. Under the amended plan, the total amount of ordinary shares or monetary claims granted annually to eligible directors will be capped at ¥500 million (excluding allowances for executive directors). Additionally, the annual limit for newly issued or transferred ordinary shares under the plan will be set at 150,000 shares.
The ratio of the maximum number of shares granted annually relative to the outstanding share count is approximately 0.37%, deemed appropriate considering the dilution impact. The amendment also introduces restrictions on transferring such shares during a designated holding period, with provisions allowing the company to reclaim unmet condition shares. Shares will be managed in dedicated accounts at Nomura Securities during the restriction period.
Furthermore, the company plans to extend similar restricted stock award programs to non-executive officers and subsidiary directors contingent upon shareholder approval at the upcoming Extraordinary General Meeting scheduled for June 24.
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