TOKYO, Mar 26 (Pulse News Wire) – The Pack Corporation (3950.T) announced that its board of directors decided on March 26 to distribute restricted share awards on April 24. The distribution involves 31,300 ordinary shares at a price of ¥1,323 per share, totaling ¥41.4 million.
The shares will be distributed among 17 executives, including eight directors and nine executive officers. This move aims to enhance motivation and align interests with shareholders' value through long-term incentives. Each recipient will hold the shares subject to restrictions until April 24, 2051, with conditions allowing for partial release upon retirement due to normal reasons.
In case of termination during the restriction period, the company will acquire the remaining shares free of charge. The shares will be managed by Nomura Securities Co., Ltd., ensuring compliance with the restrictions. The distribution follows the company's incentive program introduced in 2020, which was approved by shareholders in subsequent meetings.
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