TOKYO, Jun 23 (Pulse News Wire) – TOTO LTD. (5332.F) resolved today to dispose of restricted shares on July 21, 2026.
The disposal involves ordinary shares totaling 36,100 and will be conducted at a price of ¥9,315 per share, resulting in a total amount of ¥336.3 million. The shares will be transferred to eight executive directors who received monetary compensation under the company's restricted stock award program. This program was approved by shareholders at annual general meetings held in June 26, 2018; June 25, 2021; and June 24, 2022. It aims to enhance long-term corporate value while fostering greater alignment with shareholders' interests. Under the program, executives receive restricted stock awards based on their performance, with restrictions lasting up to 30 years. The restricted period for the shares being disposed of runs from July 21, 2026 to July 20, 2056.
During this time, the shares cannot be sold, pledged, or otherwise transferred without approval. Upon completion of the restriction period or upon retirement due to valid reasons such as death, the company will acquire the remaining shares free of charge. Additionally, if an executive engages in misconduct during the restriction period, the company reserves the right to reclaim the shares at no cost. The shares will be managed through dedicated accounts set up at Nomura Securities Co., Ltd. to ensure compliance with the restrictions. Any organizational restructuring involving the company during the restriction period would lead to adjustments in the number of shares subject to restrictions and could result in the lifting of those restrictions prior to the scheduled end date.
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