TOKYO, May 14 (Pulse News Wire) – Suruga Bank Ltd. (8358.T) announced today that its board of directors has approved the continuation of its equity compensation program for senior executives.
The program, which began in fiscal 2023, aims to enhance engagement among senior staff, align their interests with those of shareholders, and promote long-term value creation. Under the Employee Stock Ownership Plan (ESOP) trust mechanism adopted by the bank, shares purchased through the trust will be distributed to eligible executives upon retirement based on predetermined share allocation regulations. To support this initiative, the bank plans to make additional cash contributions to the existing ESOP trust, enabling the acquisition of necessary shares from the stock market during the period from May 22, 2026, to June 19, 2026.
The ESOP trust, managed by Mitsubishi UFJ Trust and Banking Corporation, will continue until August 2026, with potential extension to August 2029 pending contractual changes. During this period, the trust will manage and distribute shares according to predefined conditions, ensuring alignment with shareholder objectives and executive performance criteria. Any remaining shares at the end of the trust term will either be transferred back to the company for cancellation or donated to non-interested entities.
This decision underscores Suruga Bank's commitment to fostering a culture of shared responsibility and long-term growth among its leadership team.
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