Employee incentives through time-capsule stock options
First written in FY2023-Q3. 1 of 2 entries say "Dropped", first in FY2023. Latest entry: FY2023.
5 other companies' latest entry also says "Dropped".
- FY2023DroppedAnnual report
「At a meeting of the Board of Directors held on 15 June 2023, the Company resolved to acquire and cancel all of the above Series 4 stock acquisition rights, and acquired and cancelled all stock acquisition rights as of 30 June 2023.」
All time-capsule stock options were acquired and cancelled as of 30 June 2023, ending the employee incentive programme. - FY2023-Q3First statedAnnual report
「At a meeting of the Board of Directors held on 15 December 2022, the Company resolved to issue Series 4 stock acquisition rights (time-capsule stock options), which were issued on 16 January 2023. These stock acquisition rights were issued for consideration and held by a trustee, to be delivered on a specified date to eligible recipients who satisfy certain conditions. They were subject to a condition that they could be exercised only if the revenue target for the fiscal year ending June 2025 was achieved. The purpose of issuing these stock acquisition rights was to further enhance the motivation and morale of employees of the Company and its subsidiaries to contribute to business growth and the enhancement of corporate value.」
Series 4 stock acquisition rights were issued on 16 January 2023. The issue comprised 2,000 rights covering 200,000 common shares, with achievement of revenue of ¥5.3 billion for the fiscal year ending June 2025 as the exercise condition. The exercise period was from 1 October 2025 to 30 September 2030. The stated purpose was to enhance employees' motivation and morale to contribute to business growth and the enhancement of corporate value.