Tohoku Electric Power Company,Incorporated [9506.T]
TOKYO, Jun 25 (Pulse News Wire) – Tohoku Electric Power Company,incorporated (9506.T) announced the continuation and additional funding of its performance-based equity compensation program for directors and executive officers, excluding external directors and audit committee members, effective from June 25, 2026. The program, introduced in 2020, aligns director remuneration with the company's performance and stock value, aiming to enhance long-term profitability and share value.
Under the Board Incentive Plan (BIP) trust mechanism, directors earn shares or cash equivalents based on their roles and achievement of set goals. The company plans to extend the existing BIP trust through additional contributions, maintaining the program until August 31, 2026, with potential extension to August 31, 2029.
Key features of the extended program include annual point allocations tied to performance metrics, non-voting rights for held shares during the trust period, and distribution of accumulated points upon retirement. Any remaining shares at the end of the trust term will either continue the trust or be transferred back to the company for cancellation, subject to board approval.
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