TOKYO, Jun 17 (Pulse News Wire) – Toyo TEC CO.,LTD. (9686.T) resolved to distribute restricted shares as part of its long-term incentive program.
On July 16, 2026, the company will issue ordinary shares valued at May 10, 2018 per share to four non-outsider directors and fourteen executive officers who do not concurrently hold director positions. The total value of the distribution is ¥41.1 million. The purpose of this initiative is to align executives' interests with shareholder value through a ten-year restriction period ending on July 15, 2056. Under the agreement, recipients cannot sell or pledge their shares until the restrictions lapse.
In case of retirement due to reasons such as reaching mandatory age limits, partial lifting of restrictions occurs based on tenure served during the restriction period. Additionally, TOYO TEC will acquire all unreleased shares free of charge upon expiration of the restriction period or earlier termination conditions. Shares will be managed by Nomura Securities Co., Ltd. to ensure compliance with the restrictions throughout the designated period.
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