Sharing value with shareholders through restricted stock compensation
First written in FY2017. 3 of 7 entries say "Advanced", first in FY2020. Latest entry: FY2024-Q2.
- FY2024-Q2AdvancedAnnual report
「Based on a resolution of the 40th Annual General Meeting of Shareholders held on 27 September 2023, the company introduced, from the second quarter accounting period, the stock compensation plan "Board Benefit Trust (BBT)" for its directors, excluding outside directors and non-residents of Japan, and its executive officers (collectively, the "Directors and Executive Officers").」
Based on the resolution of the shareholders' meeting held on 27 September 2023, the company introduced BBT from the second quarter accounting period. The shares held by the trust totaled 98,200, with a carrying amount of ¥99.825 million, providing specific implementation of the revised compensation system changed from the former restricted stock compensation plan. - FY2023ReframedAnnual report
「Following shareholder approval at the Annual General Meeting of Shareholders held on 27 September 2023 of Proposal No. 3, "Payment of a Lump Sum Following the Abolition of the Directors' Retirement Allowance Plan," and Proposal No. 4, "Introduction of a Stock Compensation Plan for Directors," the Board of Directors approved a revision to the existing compensation plan at its meeting held the same day. The new plan consists of fixed compensation, short-term incentive compensation (performance-linked compensation) and long-term incentive compensation (stock compensation).」
The company abolished its former directors' retirement allowance plan and revised its compensation system to one consisting of fixed compensation, performance-linked compensation and stock compensation. The framework for long-term incentives was changed from the former restricted stock compensation plan to a new framework including a stock delivery trust. - FY2021AdvancedAnnual report
「At the 34th Annual General Meeting of Shareholders held on 27 September 2017, shareholders approved annual compensation of no more than ¥10 million for the grant of restricted stock to directors other than outside directors and part-time directors. At the Board of Directors meeting held the same day, the company introduced a restricted stock compensation plan with annual compensation of no more than ¥10 million, no more than 20,000 shares per year and a 3-year transfer restriction period. The transfer restriction period for shares granted in 2017, from 27 October 2017 to 27 October 2020, was subsequently lifted.」
Under the restricted stock compensation plan, the 3-year transfer restriction period for shares granted in 2017 was lifted on 27 October 2020. - FY2020AdvancedAnnual report
「Other (disposal as restricted stock compensation) 166,400 136,281」
The company disposed of 166,400 shares during the fiscal year under its restricted stock compensation plan, which aims to align value with shareholders, and disclosed the result. - FY2019RestatedAnnual report
「As stock compensation, at the 34th Annual General Meeting of Shareholders held on 27 September 2017, shareholders approved compensation of no more than ¥10 million per year for the grant of restricted stock to directors other than outside directors and part-time directors, with the aim of promoting greater alignment of value with shareholders by encouraging them to hold company shares. The company introduced the plan at a meeting of the Board of Directors held the same day, with annual compensation of no more than ¥10 million, no more than 20,000 shares per year and a 3-year transfer restriction period.」
The company continues the restricted stock compensation plan, specifying the eligible directors, annual and share-number limits, transfer restriction period and objective of aligning value with shareholders. - FY2018RestatedAnnual report
「At the 34th Annual General Meeting of Shareholders held on 27 September 2017, the company introduced a restricted stock compensation plan for directors other than outside directors and part-time directors, with the aim of promoting greater alignment of value with shareholders by encouraging them to hold company shares. The plan provides for annual compensation of no more than ¥10 million, no more than 20,000 shares per year, and a 3-year transfer restriction period.」
The company continues to disclose the eligible recipients, annual limit, share-number limit, transfer restriction period and objective of aligning value with shareholders under the restricted stock compensation plan. - FY2017First statedAnnual report
「At the 34th Annual General Meeting of Shareholders held on 27 September 2017, the company introduced a restricted stock compensation plan for directors other than outside directors and part-time directors, with the aim of promoting greater alignment of value with shareholders by encouraging them to hold company shares. The plan provides for annual compensation of no more than ¥10 million, no more than 20,000 shares per year, and a 3-year transfer restriction period.」
The company introduced a stock compensation plan specifying the eligible directors, annual and share-number limits, and transfer restriction period, with the aim of aligning value with shareholders through share ownership.