Suzumo Machinery Co.,Ltd. [6405.T]
TOKYO, May 26 (Pulse News Wire) – Suzumo Machinery CO.,LTD. (6405.T) resolved today to amend its performance-linked equity compensation program, known as the Board Benefit Trust-Restricted Stock (BBT-RS).
The changes will take effect pending approval at the upcoming annual shareholders' meeting scheduled for June 27, 2026. Under the revised plan, directors and appointed executive officers will continue to receive shares based on their roles, performance achievements, and share value. However, the scope of eligible recipients will be adjusted to align with the company's shift to an audit committee structure. Directors and executives who receive shares during their tenure will enter into restrictive agreements prohibiting transfers until their departure.
The amended program also includes provisions for the trust to hold voting rights uniformly without instruction from beneficiaries, ensuring neutrality in corporate governance decisions. Shares held within the trust will not exercise voting rights but will retain dividend income which will fund future share purchases and trustee fees. In addition, the company plans to make additional contributions to the trust annually, contingent upon the number of shares needed for payouts. Any remaining shares and cash from previous periods will be used towards subsequent distributions.
The total points granted per director annually will cap at 148,900, equivalent to approximately 0.0014% of outstanding shares as of March 31, 2026.
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