Introducing restricted stock compensation for directors
First written in FY2023. 2 of 5 entries say "Advanced", first in FY2024-Q1. Latest entry: FY2025.
- FY2025RestatedAnnual report
「Provided that the recipient has continuously held a position as a Company director, executive officer or employee throughout the service provision period, if the market capitalization threshold established for each type of restricted stock listed below is achieved during the transfer restriction period, all transfer restrictions on each type of restricted stock will be released upon expiry of the transfer restriction period.」
For the performance-linked restricted stock issued in February 2025, it discloses a service provision period through 13 February 2028 and release conditions based on market capitalization ranging from ¥10 billion to ¥50 billion. - FY2025-H1AdvancedAnnual report
「14 February 2025 (Note) The increase resulted from the issuance of new shares as performance-linked restricted stock compensation. Allottees: 5 Company directors; 3 Company executive officers」
A total of 63,500 shares were issued on 14 February 2025 to 5 directors and 3 executive officers as performance-linked restricted stock compensation. - FY2024RaisedAnnual report
「Compensation paid to directors, excluding directors who are Audit and Supervisory Committee members and outside directors, for the grant of performance-linked restricted stock is provided as monetary compensation claims, capped at ¥500 million per year, equivalent to no more than 65,000 common shares per year.」
In addition to the existing restricted stock compensation plan, a performance-linked compensation framework was established, capped at ¥500 million per year and 65,000 shares per year. - FY2024-Q1AdvancedAnnual report
「At the Annual General Meeting of Shareholders held on 22 December 2023, the Company received approval under this plan to grant eligible directors monetary compensation claims of up to ¥90 million per year as monetary compensation to be contributed for the acquisition of restricted stock, and to set the transfer restriction period for the restricted stock at 3 years or longer, as determined by the Company's Board of Directors.」
Under the restricted stock compensation plan, the issuance and payment of 26,000 common shares were completed on 18 January 2024. The recipients were 4 directors other than outside directors, receiving 14,000 shares, and 4 executive officers, receiving 12,000 shares, indicating that the plan has moved to the implementation stage. - FY2023First statedAnnual report
「At the 12th Annual General Meeting of Shareholders held on 22 December 2023, the Company resolved to provide compensation for the grant of restricted stock to its directors other than outside directors. The total amount of monetary compensation claims to be paid is limited to ¥90 million per year, and the total number of common shares issued or disposed of by the Company is limited to 200,000 shares per year.」
It states for the first time the resolution to introduce restricted stock compensation for directors other than outside directors, capped at ¥90 million per year and 200,000 shares per year.