Business
Sakai Chemical Industry : Notice Concerning a Disposal of Treasury Shares as Restricted Stock Compensation
Sakai Chemical Industry : Notice Concerning a Disposal of Treasury Shares as Restricted Stock
About this update from Sakai Chemical Industry Co., Ltd.
[{"type":"text","content":"\n \n For Immediate Release\n \n \n July 23, 2025\n \n \n \n Company name: Sakai Chemical Industry Co., Ltd. Representative: President and Representative Director,\n \n \n Toshiyuki Yagura (TSE Prime Market, Stock code: 4078)\n \n \n Inquiries: General Manager of Human Resources\n \n \n & General Affairs, Kouichi Yumioka\n \n \n Telephone: +81-72-223-4111\n \n \n \n Notice Concerning a Disposal of Treasury Shares as Restricted Stock Compensation\n \n \n Sakai Chemical Industry Co., Ltd. (the \"Company\") hereby announces its Board of Directors resolved to dispose of treasury shares as restricted stock compensation as detailed below during a meeting held on July 23, 2025.\n \n \n Disposal Summary\n \n (1)\n \n \n Disposal date\n \n \n August 7, 2025\n \n \n (2)\n \n \n Type and number of shares subject to\n \n \n disposal\n \n \n 7,767 common shares in the Company\n \n \n (3)\n \n \n Disposal price\n \n \n 2,705 yen per share\n \n \n (4)\n \n \n Total disposal value\n \n \n 21,009,735 yen\n \n \n (5)\n \n \n Planned recipients\n \n \n A total of 7,767 shares will be allocated to four directors of the Company (none of whom are outside directors)\n \n \n (6)\n \n \n Other details\n \n \n This disposal of treasury shares does not require or involve the submission of a Securities Registration Statement or Securities Notification Form under Japan's Financial Instruments and\n \n \n Exchange Act.\n \n Objectives and Justification for This Disposal of Treasury Shares\n \n \n Through a meeting of its Board of Directors held on May 11, 2018, the Company resolved to introduce a restricted stock compensation plan (\"the Plan\") for its inside directors (outside directors are excluded from eligibility). With the introduction of this plan, the Company aimed to align the interests of these directors with those of its shareholders by equalizing their exposure to stock price movements while further enhancing their motivation to contribute to share price growth and corporate value enhancement. During its 123rd Annual General Meeting of Shareholders held on June 27, 2018, the Company secured approval to: (i) cap the annual limit for monetary compensation claims under the Plan at 120 million yen; (ii) limit the total number of restricted shares allocated to directors (outside directors are ineligible for compensation under the Plan) per fiscal ...