Tokyo Steel Manufacturing Grants Restricted Shares to Executives

TOKYO, Jun 24 (Pulse News Wire) – Tokyo Steel Manufacturing CO.,LTD. (5423.T) resolved at its board meeting held today to grant restricted shares as part of its equity compensation program.

The company will issue ordinary shares worth ¥38.8 million on July 24, 2026, to three directors and six executive officers, totaling 22,326 shares per individual. Each share will be priced at ¥1,739. The restricted shares come with a vesting period lasting until July 23, 2056, during which time the recipients cannot sell, pledge, or otherwise dispose of the shares without meeting specific conditions. Upon completion of their tenure as either directors or executives, the restrictions will be lifted.

In case of early termination due to reasons such as death or retirement, partial lifting of restrictions based on the duration served will apply. This move aligns with the company's strategy to incentivize long-term value creation and enhance alignment with shareholders' interests. The total number of restricted shares granted annually remains capped at 80,000 shares. Additionally, the company introduced a similar scheme for its executive officers in 2019 to promote sustained corporate growth and value-sharing with stakeholders.