TOKYO, May 28 (Pulse News Wire) – Ray Corporation (4317.T) resolved to distribute restricted shares to its executives on May 28, 2026. According to the resolution made during the board meeting held on May 28, 2026, the distribution will involve ordinary shares totaling 57,686.
Each share will be sold at ¥515 per share, resulting in a total amount of ¥29.7 million. The recipients include three directors and 32 executive officers who do not hold director positions but serve as department heads or managers. The purpose of this share distribution is to incentivize long-term value creation among executives while fostering greater alignment with shareholders' interests. Under the newly implemented restricted stock compensation program, eligible executives will contribute cash awards up to ¥50 million annually towards acquiring these shares. The restriction period begins upon receipt of the shares and ends either upon leaving their respective roles or after a set duration, whichever comes later.
In case of early termination due to valid reasons such as retirement or death, the restrictions will be lifted proportionally based on the time served. Additionally, the company will manage these shares through a dedicated account at Nomura Securities Co., Ltd., ensuring compliance with the restrictions imposed until the end of the vesting period. The valuation for the share distribution was determined based on the closing price of Ray's ordinary shares on the Tokyo Stock Exchange Standard Market on May 28, 2026, which stood at ¥515. This ensures fairness and, The valuation for the share distribution was determined based on the closing price of Ray's ordinary shares on the Tokyo Stock Exchange Standard Market on May 28, 2026, which stood at ¥515. This ensures fairness and avoids any preferential treatment.
The distribution agreement also includes provisions for automatic forfeiture of shares in cases of misconduct or breach of contract during the restriction period.
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