Sumitomo Realty disposes treasury stock for employee stock plan

Sumitomo Realty & Development Co., Ltd. (TSE:8830) announced today that its Board of Directors has approved the disposal of 2,054,100 shares of treasury stock via third-party allotment. This move supports the introduction of a new stock compensation plan designed to reward long service and dedication among employees of the Sumitomo Realty Group. The disposal value is set at JPY5,355 per share, totaling JPY10,999,705,500. The recipient of the allotted shares is Sumitomo Mitsui Trust Bank, Limited, acting as a trust account trustee. The disposal is scheduled for June 12, 2025. The company believes this initiative will incentivize employees to actively contribute to the enhancement of corporate value and sustainable growth. The stock compensation plan's trust term is from June 12, 2025, to September 30, 2035. The company considers that there is no significant impact on the trading market.