Totech to Distribute Restricted Shares to Executives on July 17

TOKYO, Jun 24 (Pulse News Wire) – TOTECH CORPORATION (9960.T) announced that it will distribute restricted shares to three executives on July 17, 2026. The distribution involves ordinary shares totaling 4,400 and is based on a compensation plan introduced in May 2022 aimed at incentivizing non-outsider directors.

Each share will be priced at ¥3,960, resulting in a total value of ¥17.4 million. This distribution follows the approval granted during the 68th Ordinary General Meeting held on June 28, 2023, and subsequent adjustments made due to a stock split effective April 1, 2024. The restricted shares come with conditions that prohibit their sale until July 1, 2027, or upon leaving executive positions, whichever occurs later.

Additionally, the company retains the right to reclaim shares without payment if certain conditions are breached. Under this scheme, executives must contribute cash awards totaling ¥17.4 million as capital contributions to acquire these shares. The agreement also includes provisions for share management through Nomura Securities Co., Ltd., ensuring compliance with restrictions throughout the vesting period.