TOKYO, Jun 05 (Pulse News Wire) – Saxa,inc. (6675.T) plans to introduce a performance share plan (PS) alongside its existing restricted stock (RS) program aimed at aligning executive compensation with company performance.
The move was approved during a board meeting held on May 20, 2026, and will be presented for shareholder approval at the upcoming 23rd Ordinary General Meeting scheduled for June 25, 2026. Under the proposed PS scheme, executives will receive shares based on key performance indicators (KPIs) such as EBITDA and relative Total Shareholder Return (TSR) against TOPIX. The initial ratio of RS to PS will be set at 50:50, with up to half of the total amount of restricted shares being reallocated to PS.
Additionally, the annual limit for ordinary shares granted through RS and PS remains unchanged at ¥40 million, while the number of shares issued annually will cap at 22,500. The holding period for PS shares will mirror that of RS shares, extending from the grant date until the executive ceases to hold their position within the company. Payment terms and conditions for individual grants will be determined by the board.
The per-share issuance price will be based on the closing price of SAXA's common stock on the Tokyo Stock Exchange prior to the board resolution date.
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