Ultrafabrics Holdings Co.,Ltd. [4235.T]
TOKYO, May 27 (Pulse News Wire) – Ultrafabrics Holdings CO.,LTD. (4235.T) announced today that its board of directors has decided to dispose of own shares based on its restricted stock unit (RSU) grant program.
The disposal will take place on June 18, 2026, involving the issuance of ordinary shares totaling 53,400. The total value of the disposal is set at ¥673 per share, resulting in a total amount of ¥35.9 million. The RSUs granted in May 2023 will be distributed among two non-audit committee directors, one employee, four subsidiary directors, and four subsidiary employees. The distribution aligns with the RSU program approved at the company's 54th Ordinary General Meeting of Shareholders held on March 28, 2019, and further detailed during the board meeting on January 29, 2019. Under the RSU program, eligible recipients include directors (excluding audit committee members), subsidiary directors, and designated employees of the company and subsidiaries.
Recipients are awarded RSUs based on their continuous service for three to ten years, contingent upon continued employment with the company or its wholly-owned subsidiaries. Upon the expiration of the vesting period, RSUs are converted into ordinary shares through a process of exchanging monetary compensation bonds for equity contributions. The valuation for the share disposal was determined based on the closing price of Ultrafabrics Holdings' ordinary shares on the Tokyo Stock Exchange on May 26, 2026, which was ¥673. This price reflects the market conditions immediately preceding the board resolution and is deemed reasonable and not particularly favorable. Additionally, the dilution rate due to this share disposal is below 25%, thus avoiding the need for independent third-party opinions or shareholder approval according to Tokyo Stock Exchange regulations.
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