TOKYO, Jun 26 (Pulse News Wire) – The Kiyo Bank,ltd. (8370.T) announced plans to distribute restricted shares to executives on July 24, 2026.
The bank's board of directors approved the distribution of 7,600 ordinary shares among 15 designated executives, including six non-audit committee directors and nine executive officers who do not hold director positions. Each share will be valued at the closing price of June 25, 2026, on the Tokyo Stock Exchange, which was set at ¥4,430. This move follows the introduction of a restricted stock compensation program aimed at incentivizing long-term value creation and enhancing shareholder alignment.
Under this program, executives receive cash awards convertible into restricted shares, subject to a holding period of 30 years. The shares cannot be transferred or used as collateral during this period without meeting specific conditions outlined in the agreement. In addition, the bank will acquire the shares free of charge if the executives engage in illegal activities or fail to meet the stipulated conditions during the restriction period.
The shares will also revert to the bank if the executives retire due to normal term expiration or other legitimate reasons within the restriction period.
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