Shimadaya Corporation [250A.T]
TOKYO, May 12 (Pulse News Wire) – Shimadaya Corporation (250A.T) announced today that its board of directors has approved the introduction of a restricted share compensation plan aimed at incentivizing executives to enhance long-term corporate value and promote greater alignment with shareholders. The plan requires shareholder approval at the company’s 71st annual general meeting scheduled for June 24.
Under the proposed plan, eligible directors would receive ordinary shares subject to vesting restrictions either through (free issuance method) or (cashless subscription method). The total number of shares issuable annually under the plan is capped at 60,000 shares, with the aggregate value limited to ¥75 million per annum. The share price for issuance would be based on the closing price of Shimadaya's ordinary shares on the Tokyo Stock Exchange prior to the respective board resolution date.
Additionally, the plan includes provisions for a lock-up period during which recipients cannot sell or pledge their shares until they cease to hold certain positions within the company. Specific distribution schedules and allocation details will be determined by the board. At the upcoming AGM, shareholders will also consider granting similar restricted share awards to the company’s executive officers contingent upon approval of the plan.
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