Introduction of a Restricted Stock Compensation Plan
First written in FY2022. 1 of 4 entries say "Advanced", first in FY2024-Q1. Latest entry: FY2024-Q2.
- FY2024-Q2AchievedAnnual report
「Pursuant to a resolution of the Board of Directors dated 29 June 2023, the Company issued new shares as restricted stock compensation on 18 July 2023. During the second quarter of the current fiscal year, stated capital and capital surplus each increased by ¥158 million.」
For the restricted stock compensation that had initially been scheduled for grant in the following fiscal year, the Company issued 240,000 shares on 18 July 2023 and made the initial grant under the plan. - FY2024-Q1AdvancedAnnual report
「Having comprehensively considered the purpose of the plan, the Company’s business results and other factors, the Company resolved to provide its directors, excluding outside directors, and Group executive officers, collectively referred to below as the “Eligible Recipients,” with monetary compensation claims of ¥317,280,000 as restricted stock compensation, and to allot 240,000 shares of the Company’s common stock as specified restricted shares upon payment by the Eligible Recipients of the full amount of those monetary compensation claims through an in-kind contribution.」
For the restricted stock compensation that had initially been scheduled for grant in the following fiscal year, the Company resolved to issue 240,000 shares, with a total value of ¥317,280,000, to 4 directors and 7 Group executive officers. The transfer restriction period is 3 years, from 18 July 2023 to 17 July 2026. - FY2023Initial grant scheduled for the following fiscal yearAnnual report
「The fiscal year ending February 2023 will serve as the evaluation period for determining the restricted shares to be granted to each director. The Company plans to make the first share-based compensation grant under the plan in the fiscal year ending February 2024 based on the degree to which the targets and other objectives for the fiscal year ending February 2023 are achieved, and will not grant share-based compensation during the fiscal year ending February 2023.」
The restricted stock compensation plan remains in place, but the fiscal year ending February 2023 is designated as the evaluation period, with the initial grant scheduled for the fiscal year ending February 2024. - FY2022First statedAnnual report
「The Company is introducing this plan for the Company’s eligible directors to share the benefits and risks of share price fluctuations with shareholders, further increase their motivation to contribute to enhancing corporate value over the long term, increase their motivation to achieve the medium-term profit plan of consolidated operating profit of ¥10 billion for the fiscal year ending February 2026, and increase their motivation to contribute to the enhancement of corporate value over the medium to long term through execution of the plan.」
The Company introduced a share-based compensation plan with a 3-year transfer restriction for directors other than outside directors. The plan is limited to 240,000 shares per year and monetary compensation claims of up to ¥1 billion per year, and is linked to the operating profit target of ¥10 billion for the fiscal year ending February 2026.