Introduction of a Performance-Linked and Restricted Stock Compensation System
First written in FY2021. 3 of 4 entries say "Advanced", first in FY2022-Q1. Latest entry: FY2024-Q1.
The whole theme swung hardest in 2024: 3 of 32 companies on the "Worse" side.
33 other companies' latest entry also says "Advanced".
- FY2024-Q1AdvancedAnnual report
「At its meeting held on 15 February 2024, the Board of Directors resolved to dispose of treasury shares as restricted stock compensation as described below, and the disposal was carried out on 4 March 2024.」
On 4 March 2024, after the end of the first quarter, 5,100 treasury shares with a total value of ¥7,650,000 were disposed of to 4 directors as restricted stock compensation. - FY2023AdvancedAnnual report
「During the fiscal year, the Board of Directors resolved at its meeting held on 14 February 2023 to dispose of treasury shares as restricted stock compensation, and on 10 March of the same year disposed of 5,000 treasury shares to 4 directors other than outside directors.」
As restricted stock compensation, 5,000 treasury shares were disposed of to 4 directors on 10 March 2023. Performance-linked compensation of ¥7.25 million was recorded. - FY2022-Q1AdvancedAnnual report
「At the company's annual general meeting of shareholders held on 27 January 2022, approval was obtained to introduce a stock compensation plan under which restricted stock would be delivered to the company's directors other than outside directors, with the aim of having these directors share with shareholders the benefits and risks of share price movements and further motivating them to contribute to an increase in the share price and enhancement of corporate value. Approval was also obtained to set the total amount of monetary compensation claims to be paid to the company's directors other than outside directors as compensation for restricted stock under the plan at no more than ¥20 million per year, to limit the total number of restricted shares allocated to these directors in each fiscal year to 30,000 shares, and to set the restriction period at a period determined by the Board of Directors between the delivery date of the restricted shares and the date on which the recipient ceases to hold any position as either a director or executive officer of the company, among other matters.」
The introduction of the restricted stock compensation plan was approved at the annual general meeting of shareholders on 27 January 2022, along with approval of a special payment associated with the abolition of the directors' retirement bonus plan. - FY2021First statedAnnual report
「Following the annual general meeting of shareholders held on 27 January 2022, we introduced performance-linked compensation and non-monetary compensation in the form of stock compensation. The directors' retirement bonus plan was abolished upon the conclusion of that meeting. The target ratio by type of compensation is basic compensation: performance-linked compensation: non-monetary compensation = 85:10:5, assuming 100% achievement of targets.」
The company abolished the directors' retirement bonus plan and established a policy of introducing performance-linked compensation and stock compensation in addition to fixed compensation from 27 January 2022. The indicative compensation ratio is 85:10:5.