SEIKO ELECTRIC CO.,LTD. [6653.T]
TOKYO, Apr 22 (Pulse News Wire) – Seiko Electric CO.,LTD. (6653.T) resolved to distribute restricted shares to its executives on April 22, 2026.
The distribution involves 13,379 ordinary shares, valued at ¥2,844 per share, totaling ¥38.0 million. The shares will be distributed to four directors and 13 executive officers who do not hold director positions. This move follows the introduction of a restricted stock compensation system aimed at incentivizing long-term performance and aligning interests with shareholders. Initially approved in 2019, the program was revised in 2024 to adjust annual compensation limits to ¥50 million per director. Under this scheme, recipients must hold the shares until their retirement or resignation from designated roles within Seiko Electric.
Details of the agreement stipulate that the shares cannot be transferred during the restriction period from April 22, 2026 until the recipient's departure from their role. In case of premature termination due to valid reasons, such as retirement or death, partial shares will be released based on the duration of service. Additionally, the company retains the right to reclaim unrestricted shares without payment upon expiration of the restriction period. The shares will be managed through a dedicated account at Nomura Securities to ensure compliance with restrictions. This ensures that the shares remain untransferable and free from encumbrances throughout the restriction period.
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