Risk of Shareholder Value Dilution from Stock Options
First written in FY2017. 2 of 4 entries say "Dropped", first in FY2018. Latest entry: FY2024.
The whole theme swung hardest in 2017: 43 of 78 companies on the "Worse" side.
6 other companies' latest entry also says "Dropped".
- FY2024DroppedAnnual report
「The first series of stock acquisition rights, issued pursuant to resolutions of the extraordinary general meeting of shareholders held on 30 April 2014 and the Board of Directors meeting held on 30 May 2014, expired on 30 April 2024 upon the expiration of their exercise period.」
The 1,500 outstanding stock acquisition rights expired on 30 April 2024 upon the expiration of their exercise period, leaving no unexercised rights outstanding. - FY2022Disclosure of outstanding unexercised stock acquisition rightsAnnual report
「Number of shares underlying the stock acquisition rights: 1,500 (Notes 1 and 4); exercise period for the stock acquisition rights: from 1 July 2016 to 30 April 2024」
Although the dilution risk is not expressly stated in the risk section, the filing discloses that stock acquisition rights representing 1,500 shares, exercisable through 30 April 2024, remained unexercised. - FY2018DroppedAnnual report
「Among matters relating to the Company's business and accounting that may have a material impact on investors' decisions are the following.」
The section on business and other risks for the fiscal year does not mention the risk of dilution of share value through stock options, which had been included through the previous filing. - FY2017First statedAnnual report
「The number of potentially dilutive shares at the end of the month preceding the month in which this document was filed was 27,330, equivalent to 2.6% of the total number of shares issued. If these stock acquisition rights are exercised, the value of the shares may be diluted.」
The potential dilution risk is quantified as 27,330 potentially dilutive shares, equivalent to 2.6% of the total number of shares issued.