Tokai Tokyo Financial Holdings Tokyo-listed Tokai Tokyo Financial to Grant Share Options to Executives

TOKYO, May 20 (Pulse News Wire) – Tokai Tokyo Financial Holdings,inc. (8616.T) resolved at its board meeting held today to grant share options to executives and employees without charge, aiming to align their interests with those of shareholders and enhance group performance.

The company plans to issue up to 1,600 stock options, allowing for the issuance of up to 1.60 million shares ordinary shares (approximately 0.61% of outstanding shares). The options will vest over a two-year period and remain exercisable for seven years thereafter.

The exercise price will be determined based on the average closing price of the company's ordinary shares on the Tokyo Stock Exchange during the month prior to the option grant date, adjusted upwards by 5%. In case of significant changes such as mergers or capital reductions, adjustments to the exercise price and number of shares will be made according to predefined formulas.

Additionally, unexercised options will be transferred to surviving entities in the event of a merger or similar restructuring.