TOKYO, Jun 26 (Pulse News Wire) – TOC CO.,LTD. (8841.T) announced that its board of directors held on June 26 decided to distribute restricted shares as part of its equity compensation plan.
The distribution will take place on July 24, involving 13,300 ordinary shares valued at ¥972 per share, totaling ¥12.9 million. Six executives will receive these shares, who will hold them subject to restrictions until July 23, 2056. Under the equity compensation program introduced in May 14, 2019, and approved by shareholders on June 27, 2019, the company aims to incentivize long-term value creation and enhance shareholder alignment. Each executive will contribute their cash-based compensation bonds, up to ¥50 million annually, towards acquiring these restricted shares.
The price for the restricted shares was determined based on the closing price on June 25, 2026, which was ¥972 per share. Additionally, the company outlined conditions for lifting the restrictions, such as continued service as an executive during the restriction period. In case of resignation due to reasons other than death, the restrictions would be lifted proportionally based on the duration served. Upon termination of the restrictions, the company reserves the right to acquire any remaining shares without payment.
The shares will be managed through a dedicated account at Nomura Securities throughout the restriction period.
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