Asics shifts treasury share disposal to individual employees

ASICS Corporation (TSE:7936) announced a change in its plan to dispose of treasury shares, shifting the allocation from the Employee Shareholding Association (ESA) to individual employees under the existing "Restricted Share Incentive Scheme." This adjustment, decided in a recent Board of Directors meeting, aims to further align employee interests with shareholder value by enabling direct management participation akin to company directors and executive officers. The scheme involves allotting a maximum of 191,900 shares to 117 eligible employees, paid for via a monetary claim of JPY 531,658,950 in total as transfer-restricted share compensation. These employees are required to open accounts with SMBC Nikko Securities to manage the shares until transfer restrictions are lifted. Asics believes the dilution from this disposal is minor, representing approximately 0.025% of outstanding shares. The company submitted an Extraordinary Report and a Correction Report regarding the change.