Tsugami to dispose of treasury shares for stock compensation

Tsugami Corporation (TSE:6101) announced today that its Board of Directors has approved the disposal of treasury shares as restricted stock compensation for eligible directors and executive officers. A total of 63,400 shares will be disposed of at a price of JPY 1,857 per share, resulting in a total disposal amount of JPY 117,733,800. The shares will be allocated to 4 directors and 18 executive officers as part of a stock compensation plan approved at the 118th Annual Shareholders Meeting on June 16, 2021. The plan aims to align the interests of the executives with those of shareholders and to incentivize contributions to the company's stock value. The transfer of the restricted stock is subject to specific conditions, including continued employment within the company until retirement.