Yokohama Reito to dispose of treasury stock for compensation

Yokohama Reito announced today that its board of directors has resolved to dispose of 62,400 shares of its common stock as compensation in the form of restricted stock to eight of its directors. The disposal price is set at ¥862 per share, totaling ¥53,788,800. This move aims to further align the interests of the company's directors with those of its shareholders and enhance long-term corporate value. The payment date is scheduled for March 17, 2025. The restricted stock compensation plan was initially approved at the board meeting on November 26, 2019, and subsequently at the 72nd Annual General Meeting of Shareholders on December 20, 2019. The disposal is subject to certain transfer restrictions which will be lifted subject to the director remaining in the role for a stipulated period.