TOKYO, May 14 (Pulse News Wire) – Suruga Bank Ltd. (8358.T) announced today that its board of directors has approved the continuation of its trust-based equity compensation plan for executive officers and senior executives through fiscal years 2026 to 2028.
The plan includes performance metrics aligned with the bank's new medium-term management strategy, focusing on indicators such as Return on Equity (ROE). Under the existing Board Incentive Plan (BIP) Trust, the bank will continue to allocate funds to purchase shares on behalf of eligible executives based on their performance points earned annually. The trust, managed by Mitsubishi UFJ Trust and Banking Corporation, will acquire Suruga Bank common stock from the open market using the allocated funds.
Any remaining shares at the end of the trust term will either be transferred back to the bank for cancellation or donated to unrelated organizations. The trust was initially established in August 2025 and is set to run until August 2026, with plans to extend until August 2029. Shares acquired through the trust will be subject to dividend payments but will not carry voting rights during the trust period.
Points accumulated by executives will determine the distribution of shares upon retirement or departure.
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