Renesas Electronics Corporation [6723.T]
TOKYO, Apr 10 (Pulse News Wire) – Renesas Electronics Corporation (6723.T) canceled its previous share issuance registration dated July 18, 2025, and filed a new registration for granting restricted stock units (RSUs), performance share units (PSUs), and their respective variants to employees based on its equity compensation program. The new grants are set to take effect from May 1, 2026, with the issuance period lasting until April 17, 2028.
Under the revised plan, up to 9.300 billion shares will be allocated to eligible employees over a two-year period. The funds raised from this issuance will be used to distribute physical shares instead of cash rewards to recipients. The company's ordinary shares will be distributed based on the vesting schedule determined by the employee’s continued service and performance metrics.
Specifically, RSUs and PSUs will vest annually or upon termination of employment, subject to certain conditions such as continued employment and meeting performance targets. RSUs(RS-type) and PSUs(RS-type) come with restrictions that prevent transfers until the recipient leaves their position within the company or its subsidiaries. The grant prices for the newly issued shares will be calculated based on the closing price of Renesas' ordinary shares on the Tokyo Stock Exchange on the day preceding the board resolution date.
Additionally, adjustments may be made to the number and timing of shares delivered if special circumstances arise, such as changes in employment status or violations of company policies.
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