TRADERS HOLDINGS CO.,LTD. [8704.T]
TOKYO, May 22 (Pulse News Wire) – Traders Holdings CO.,LTD. (8704.T) announced today that its board of directors has decided to expand its restricted stock compensation plan to include audit committee members.
The proposal will be presented at the company's 27th annual shareholders' meeting scheduled for June 26, 2024. Under the new plan, non-cash compensation based on restricted shares will be granted to audit committee members in addition to their existing cash compensation framework approved up to ¥150 million per annum. The total amount of non-cash compensation will be capped at ¥30 million annually. Each audit committee member will contribute the corresponding monetary compensation as capital investment to acquire ordinary shares of the company, subject to a yearly limit of 30,000 shares shares.
The restricted stock grants will come with a 30-year holding period during which the recipients cannot sell, pledge, or otherwise dispose of the shares without valid reasons such as retirement due to term expiration, death, or other legitimate causes. Upon completion of the holding period, restrictions will be lifted contingent upon continuous service as a director or officer. In case of organizational restructuring involving mergers or spin-offs, the company reserves the right to adjust the lifting conditions reasonably. This initiative aims to enhance corporate governance and align long-term shareholder value with executive performance while ensuring the independence and effectiveness of the audit committee’s oversight functions.
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