Kurimoto expands share-based remuneration plan to executive officers

Kurimoto, Ltd. has revised its Board Benefit Trust-Restricted Stock (BBT-RS) plan to expand eligibility to Executive Officers and Fellows, aiming to enhance motivation and align remuneration with company performance. The plan, initially approved in June 2016 and revised in June 2024, involves acquiring company shares through a trust for distribution to eligible personnel. The company will continue to contribute funds to the trust, including up to 88,000 points per fiscal year, with each point convertible to one share of Kurimoto's common stock. The initial trust establishment involved JPY 92,950,000, with a subsequent addition of JPY 55,930,000 in November 2022. Directors, Executive Officers, and Fellows receiving shares during their tenure will be subject to transfer restrictions until retirement, and the trust will not exercise voting rights of the shares. The revisions were resolved at a Board of Directors meeting held today and further details of the Plan revisions are outlined in the announcement.