Shikoku Bank to Distribute Restricted Shares to Employees on Sept 25

TOKYO, May 25 (Pulse News Wire) – The Shikoku Bank, Ltd. (8387.T) announced today that its board of directors has approved the distribution of restricted shares as part of a share-based compensation program aimed at incentivizing employees who meet certain conditions.

The bank plans to distribute ordinary shares worth ¥2,826 per share to 1,472 employees on September 25, 2026. The total value of the shares to be distributed is ¥148.7 million. This initiative follows a resolution made during the bank's board meeting held on March 23, 2026, which aimed to enhance employee engagement and promote long-term sustainable growth while fostering greater alignment with shareholders' interests.

The shares will be subject to a restriction period from September 25, 2026, to June 30, 2029, during which employees cannot sell, pledge, or gift the shares without approval from the bank’s board. Under the agreement, if an employee leaves the bank before the end of the restriction period due to reasons deemed legitimate by the board, the bank will acquire the allocated shares free of charge. Additionally, upon completion of the restriction period, the shares will be fully tradable, provided the employee remains continuously employed by the bank throughout the restriction term.