Stock Options Requiring Exercise When the Share Price Falls
First written in FY2024-Q1. 2 of 4 entries say "Advanced", first in FY2024-Q2. Latest entry: FY2024.
4 other companies' latest entry also says "Advanced".
- FY2024AdvancedAnnual report
「Exercised 1,488,000 Expired 500 Remaining unexercised 181,500」
The company disclosed that 1,488,000 shares underlying the 10th series of stock acquisition rights had been exercised and that rights covering 181,500 shares remained unexercised. The exercise status and remaining balance were specified, whereas the previous quarter had stated that no remaining balance was disclosed. - FY2024-Q3No remaining balance disclosedAnnual report
「① [Details of the stock option plan] Not applicable. ② [Status of other stock acquisition rights, etc.] Not applicable.」
Regarding the stock acquisition rights disclosed previously, the current quarterly report states that there were no applicable stock option plans or other stock acquisition rights. It does not specify why the disclosure was removed or how the remaining rights were treated. - FY2024-Q2AdvancedAnnual report
「During the cumulative second quarter, the exercise of stock acquisition rights increased stated capital by ¥106.980 million and capital surplus by ¥106.980 million. As a result, stated capital amounted to ¥1,169.938 million and capital surplus to ¥779.200 million.」
From December 2023 through February 2024, the exercise of stock acquisition rights increased the number of shares by 1,467,000 and increased stated capital and capital surplus by ¥106.980 million each. Total shares issued amounted to 19,327,720. - FY2024-Q1First statedAnnual report
「The company will issue paid stock acquisition rights to its directors and employees to further increase their motivation and morale and strengthen unity within the company, with the aim of expanding its business performance and increasing corporate value over the medium to long term. If, during the exercise period, the closing price of the company's common shares falls below 50% of the exercise price for 10 consecutive business days, all remaining stock acquisition rights must be exercised. By having the eligible directors and employees bear a certain degree of responsibility for a decline in the company's share price, this structure enables them to share share-price fluctuation risk with existing shareholders. Number of stock acquisition rights issued 16,700 Class and number of shares underlying the stock acquisition rights 1,670,000 common shares of the company (100 shares per stock acquisition right) Payment amount upon exercise of the stock acquisition rights ¥144 per share Exercise period for the stock acquisition rights From 5 January 2024 to 4 January 2026」
On 4 January 2024, the company issued 16,700 paid stock options covering 1,670,000 underlying shares to 9 directors and 5 employees. The exercise period is from 5 January 2024 to 4 January 2026, and the structure requires exercise of the remaining options if the closing share price falls below 50% of the exercise price for 10 consecutive business days. If all options are exercised, the increase in shares would equal 9.35% of total shares issued.