MGC issues treasury shares for restricted stock compensation

Mitsubishi Gas Chemical Company (MGC) [TSE:4182] announced the disposal of treasury shares to provide restricted stock compensation to its eligible directors and executive officers. The decision, finalized today by the Board of Directors, will allocate 34,800 shares of the company’s common stock, priced at JPY2,157.5 per share, totaling JPY75,081,000. This move aims to incentivize key personnel, aligning their interests with those of shareholders to promote sustained enhancement of corporate value. The disposal is structured as an in-kind contribution of monetary compensation claims, stemming from the company's restricted stock compensation system approved by shareholders on June 26, 2018.