TOKYO, May 12 (Pulse News Wire) – Secom CO.,LTD. (9735.T) announced today that its board of directors has approved the introduction of a restricted share program aimed at fostering executive engagement and long-term corporate value enhancement.
Under this initiative, executives will receive ordinary shares subject to restrictions on transfer until certain conditions are met. Key features of the program include: - Executives will receive ordinary shares upon converting cash awards into equity contributions to the company. - The issuance price per share will be determined based on the closing price of SECOM's ordinary shares on the Tokyo Stock Exchange on the day preceding the board resolution, ensuring fair valuation. - A restricted share grant agreement will be signed between the company and eligible executives, outlining the terms of the restricted shares.
Restrictions on the transfer of these shares will remain in place until either the executive leaves their position due to retirement or resignation, or they take up a new role as a director or auditor. In case of premature departure without valid reasons, the company reserves the right to acquire the shares free of charge. Additionally, the management of these restricted shares will be overseen by Nomura Securities through dedicated accounts set up for participating executives. Any organizational restructuring involving SECOM during the restriction period will also be addressed according to predefined criteria outlined in the agreement.
The initial allocation of restricted shares under this program is scheduled for discussion at the upcoming board meeting on June 26.
🟢 Confidence: High AI-translated content.