Prima Meat Packers, Ltd. [2281.T]
TOKYO, May 18 (Pulse News Wire) – Prima Meat Packers,ltd. (2281.T) resolved to amend its equity-based compensation plan (BBT-RS) during a board meeting held today.
The amendment includes imposing restrictions on the transfer of shares granted to directors and executive officers until their retirement. The revised plan will be presented at the 79th Ordinary General Meeting of Shareholders scheduled for June 25, 2026. Under the amended plan, directors and non-executive officer executives will receive restricted stock trusts (BBT-RS). Shares will be transferred through a trust mechanism funded by cash contributions made by the company. Directors will receive shares annually based on performance metrics, while non-executive officers will receive share equivalents upon retirement.
Any shares received during tenure will be subject to a restriction agreement prohibiting transfers until retirement. The company also plans to continue contributing up to ¥148.9 million per fiscal year to the trust fund, with adjustments made based on future outlooks and stock price trends. The total number of shares to be acquired by the trust will be capped at 99,600 shares over three fiscal years. Additionally, the trust will manage voting rights and dividends according to predefined conditions, ensuring impartiality in decision-making processes. Upon termination of the trust due to reasons such as delisting or cessation of the equity grant program, remaining assets will be distributed accordingly.
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