SANSO ELECTRIC CO.,LTD. [6518.T]
TOKYO, Jun 19 (Pulse News Wire) – Sanso Electric CO.,LTD. (6518.T) announced today that its board of directors, held , approved the issuance of restricted stock as compensation.
The new shares will be allotted to seven non-audit committee directors and will be paid in on July 17, 2026. Each share will be priced at ¥2,055 per share, resulting in a total issuance amount of ¥13.2 million. Under the Restricted Stock Compensation System introduced in May 2021, directors receive monetary reward bonds which are converted into company ordinary shares through physical capital contribution. The system ensures long-term value alignment with shareholders by imposing restrictions on the sale of these shares for up to 30 years.
In this instance, the total monetary reward bond amount is ¥13.2 million, and the number of ordinary shares allocated is 6,400. The restricted stock allocation agreement stipulates a restriction period from July 17, 2026, to July 16, 2056. During this period, directors cannot sell, pledge, or otherwise dispose of their allotted shares without meeting certain conditions. Upon expiration of the restriction period or upon resignation due to retirement or other legitimate reasons, the shares will either be transferred back to the company free of charge or released from restrictions based on tenure calculations.
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