SHINAGAWA REFRA CO.,LTD. [5351.T]
TOKYO, Jun 25 (Pulse News Wire) – Shinagawa Refra CO.,LTD. (5351.S) resolved at its board meeting held today to distribute restricted shares as part of its performance-based equity compensation program.
The distribution will occur on July 24, 2026, involving a total of 33,588 ordinary shares at a price of ¥1,873 per share, totaling ¥62.9 million. This equity award is intended for five directors, excluding audit committee members and outside directors, who have met the performance criteria set during the evaluation period from April 1, 2025, to March 31, 2026. The total number of shares granted is 33,588.
The shares will be subject to restrictions until the recipient ceases to hold their position as a director, with exceptions made for death or resignation due to valid reasons prior to the semi-annual report filing date in 2026. The valuation basis for the payment amount is determined based on the closing price of Shinagawa Refra's ordinary shares on the Tokyo Stock Exchange on June 24, 2026, which was ¥1,873. This method ensures fairness and reflects the company’s recent stock value accurately without favoring the recipients unduly.
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