Tekscend Photomask Corp. [429A.T]
TOKYO, May 21 (Pulse News Wire) – Tekscend Photomask Corp. (429A.T) announced today that its board of directors approved the introduction of performance share units (PSUs) as part of a revised executive compensation plan.
The PSUs will replace cash-based long-term incentives (LTIs) for three out of seven directors, contingent upon shareholder approval at the fifth annual general meeting scheduled for June 25, 2026. Under the new scheme, directors will receive shares based on the achievement of predefined performance metrics over a three-year evaluation period ending March 2029. Metrics include total shareholder return (TSR), return on equity (ROE), operating profit margin, revenue growth rate, and strategic execution indicators. A special committee comprising external directors will review and finalize the specifics of the program, ensuring alignment with the company's long-term value creation goals.
Directors' annual compensation remains capped at ¥620 million, inclusive of both cash and stock components. The company plans to issue up to 100,000 ordinary shares annually under this new structure, with adjustments made in case of stock splits or consolidations post-resolution date. Shares awarded will be subject to vesting restrictions during the director’s tenure and for one year thereafter. Additionally, Tekscend intends to extend similar programs to executives and employees within its group companies following the shareholders’ meeting.
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