Governance structure
Company with an Audit and Supervisory CommitteeIn place of the existing restricted stock, the Company will introduce a performance-linked stock compensation plan, the BIP Trust for Executive Compensation, under which shares of the Company and other benefits will be delivered based on directors’ positions, the level of achievement of performance targets and other factors. Subject to approval at the General Meeting of Shareholders, the compensation limit for the grant of restricted stock will be abolished, and no new restricted stock will be delivered going forward.
| Item | Details |
|---|---|
| Corporate Governance Structure | Company with an Audit and Supervisory Committee |
| Committee | Nomination and Compensation Committee; external members comprise a majority |
| Changes this time | In place of the existing restricted stock, the Company will introduce a performance-linked stock compensation plan, the BIP Trust for Executive Compensation, under which shares of the Company and other benefits will be delivered based on directors’ positions, the level of achievement of performance targets and other factors. Subject to approval at the General Meeting of Shareholders, the compensation limit for the grant of restricted stock will be abolished, and no new restricted stock will be delivered going forward. |
Items this document does not state (5)
These are items the company does not state in this document. We do not leave them blank, nor fill them in from other sources or by inference.
The reasons the company gives
The company's own explanation, not something inferred from the numbers.To clarify the linkage between directors’ compensation and the Company’s performance and share value, and to heighten directors’ awareness of contributing to improved performance over the medium to long term and increased corporate value by sharing with shareholders the returns and risks arising from share price fluctuations. The Company also aims to strengthen the independence, objectivity and accountability of the Board of Directors.