TOKYO, Jun 26 (Pulse News Wire) – Taiyo Yuden CO.,LTD. (6976.T) announced plans to distribute restricted shares worth over ¥1 billion to executives.
The distribution, set to occur on July 17, involves issuing ordinary shares valued at ¥18,820 per share to three directors and eleven executive officers. The total number of shares to be distributed is 5,284. Directors will receive 2,147 shares while executive officers will get 3,137 shares. The decision was made during a board meeting held on June 26, following shareholder approval granted at the company's 83rd regular shareholders' meeting in June 2024.
Under the new stock compensation system introduced at the 85th regular shareholders' meeting, directors and executive officers will receive restricted shares subject to vesting conditions and holding periods. These shares cannot be transferred until the end of the restriction period, which begins on July 17 and ends upon their loss of directorship or executive positions. Any unvested shares will revert to the company if the holder leaves before the restrictions lapse. Additionally, the company will manage these shares through SMBC Nikko Securities, ensuring compliance with the stipulated conditions until the restrictions are lifted.
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