Note: This document has been translated from the Japanese original for reference purposes only. In the event of any discrepancy between this translated document and the Japanese original, the original shall prevail.
April 11, 2025 | |
Company Name: | Wakita & Co., LTD. |
Representative: | Teiji Wakita, President and Representative Director |
(Code number: 8125, Tokyo Stock Exchange Prime Market) | |
Contact: | Atsuhiko Nariyama, Director, General Manager of |
General Affairs Division | |
Phone: 06-6449-1901 |
Announcement of the Introduction of a Restricted Stock Plan for Company Employees
Wakita & Co., LTD. (hereinafter the "Company") resolved at a meeting of its Board of Directors held today to introduce a restricted stock plan (hereinafter the "Plan") for its employees who meet certain conditions. Going forward, the Company plans to use Company shares for allotment to employees eligible under the Plan. The details are described below.
1. Purpose of the Plan
The Plan is intended to incentivize employees to contribute to the sustainable improvement of the Company's corporate value as well as to have them further share value with shareholders.
2. Overview of the Plan and amount of related shares
Under the Plan, the Company will provide monetary claims to eligible employees for the purpose of granting them its common shares. The employees will make in-kind contribution of all the monetary claims to receive allotment of the Company's treasury shares. Currently, the range of total monetary claims that the Company reasonably expects to grant to eligible employees is between 250 million yen and 420 million yen. As employees will make in-kind contribution of the amount in full, the number of shares to be used for allotment to employees is estimated to be approximately 180,000 to 210,000 shares in the range of 250 million yen to 420 million yen.
In order to achieve the purpose of the Plan, the transfer of shares to be granted will be restricted for a certain period. When granting the shares, a restricted stock allotment agreement will be concluded between the Company and the eligible employees, which stipulates the transfer restriction period and other necessary matters.
The timing the treasury shares are to be used for the Plan, the amount of monetary claims to be provided and other details will be determined at a future meeting of the Company's Board of Directors. The Company will promptly announce specific details when determined.