Sugi Holdings disposes of treasury stock for executive remuneration

Sugi Holdings (TSE:7649) announced the disposition of 7,044 treasury shares as restricted stock remuneration, a move approved by its Board of Directors. The disposition, valued at JPY22,195,644 or JPY3,151 per share, will involve allocating shares to three directors (excluding outside directors), six executive officers, and eight directors of its subsidiaries, excluding directors and executive officers of the company. This initiative aligns with the restricted stock remuneration system introduced in November 2021 and approved by shareholders in May 2022. The system aims to incentivize eligible directors and executive officers, promoting the company's corporate value and shareholder alignment. The shares are subject to transfer restrictions, which will be managed in dedicated accounts with Nomura Securities. The treasury stock disposition will utilize monetary claims paid as restricted stock remuneration for the company's 44th fiscal year.