SHIZUOKA GAS CO.,LTD. [9543.T]
TOKYO, Mar 26 (Pulse News Wire) – Shizuoka GAS CO.,LTD. (9543.T) resolved to distribute restricted shares as part of its stock compensation program during a board meeting held today.
The distribution involves 25,000 ordinary shares to three directors and 100,000 shares to nine executives, with each share valued at March 26, 2026. The total amount of the transaction is April 20, 2026. The purpose of this distribution is to align executive interests with shareholder value by ensuring that directors and key management personnel share in the benefits and risks associated with changes in stock price. Under the approved system, the restricted shares cannot be transferred until the end of the restriction period, which begins on April 20, 2026, and ends upon the director's or executive’s departure from their respective positions.
Additionally, the company will grant unrestricted shares based on performance contributions, totaling March 31, 2027 in monetary compensation. These shares will be allocated according to agreements signed by the recipients, subject to conditions such as maintaining their roles within the company throughout the restriction period. Any untransferred shares will revert to the company upon expiration of the restriction period or earlier if certain conditions are met. The valuation for the distributed shares was set at April 01, 2027, reflecting the closing price of Shizuoka Gas' ordinary shares on the Tokyo Stock Exchange on March 25, 2026, immediately preceding the board resolution.
This price is deemed reasonable and not particularly favorable.
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