TOKYO, Jun 19 (Pulse News Wire) – Teijin Limited (3401.T) announced today that its board of directors approved the disposal of treasury shares as part of restricted stock awards and performance-based share compensation programs. The restricted stock awards will be distributed on July 15, 2026, while the performance-based shares will be paid out on July 15, 2026.
A total of 53,479 ordinary shares valued at ¥1,650 per share will be disposed of for the former program, amounting to ¥88.2 million. Additionally, 38,840 ordinary shares worth ¥1,650 per share will be allocated through the latter program, totaling ¥166.3 million. The restricted stock awards are intended to enhance corporate governance, stakeholder perspectives, and long-term value creation, along with providing tax funding support upon vesting to improve the operational efficiency of the equity incentive system. Performance-based shares aim to incentivize executives based on the achievement of mid-term business plans and sustained improvement in enterprise value, fostering greater value-sharing with stakeholders.
Under these programs, recipients will face restrictions on transferring their shares until certain conditions are met. For instance, domestic executives will be subject to a three-year restriction period ending on July 14, 2029, whereas overseas executives will have a one-year restriction period ending on July 14, 2027. Restrictions will be lifted once the respective service periods are completed, contingent upon continued employment in designated positions. In cases of early termination due to valid reasons, partial lifting of restrictions may occur, allowing for the retention of some shares.
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