Sumitomo Bakelite Company Completes Employee Share Plan Distribution

TOKYO, Jul 17 (Pulse News Wire) – Sumitomo Bakelite Company,limited (4203.T) completed the distribution of restricted shares as part of its employee share plan on July 17. According to the resolution made at the June 24 board meeting, the company distributed ordinary shares worth ¥7,393 per share to directors and executive officers.

In total, the company disposed of 11,411 ordinary shares valued at ¥84.4 million. Five directors received 4,795 shares, while 12 executive officers collectively received 6,616 shares.

This distribution follows the initial announcement dated June 24, which detailed the specifics of the restricted stock award program. Further details can be found in the June 24 press release titled “Notice Regarding the Disposal of Restricted Shares as Part of the Employee Share Plan.”.