Premium Water Holdings, Inc. [2588.T]
TOKYO, May 12 (Pulse News Wire) – Premium Water Holdings,inc. (2588.T) announced today that its board of directors has approved the introduction of a performance-linked equity compensation plan called “Board Benefit Trust-Restricted Stock” (BBT-RS).
The plan will be presented to shareholders at the annual general meeting scheduled for June 24, 2026. Under the BBT-RS program, cash contributions made by the company will be used to purchase shares through a trust fund. These shares will be granted to directors and executive officers based on their roles and performance achievements according to the company’s stock grant regulations. Shares awarded during tenure will be subject to restrictions until the recipient's departure from the company. In cases where certain conditions are met, a portion of the points earned can be converted into cash payments upon retirement.
The trust will operate from August 2026 onwards, with an initial funding amount estimated at approximately 148.9 million based on the closing price of May 11, 2026. The total number of points allocated per fiscal year is capped at 20,000, with each point equivalent to one share of common stock. Directors receiving shares will enter into non-transfer agreements with the company prior to receiving grants. Additionally, the trust will manage voting rights independently without directing them towards company governance decisions. Dividends received from the trust will be utilized for future share purchases and trustee fees.
Upon termination of the trust due to reasons such as delisting or cessation of the stock grant policy, remaining assets will be distributed according to the trust agreement.
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