Rinnai completes restricted stock incentive payment with partial forfeiture

Rinnai Corporation announced on October 17, 2025, the completion of payment procedures for the disposal of treasury shares as restricted stock incentives for its employee stock ownership plan. This follows a resolution made at the Board of Directors meeting on August 6, 2025. The company also reported a change in the initially planned number of shares to be disposed of and the total disposal amount, attributed to a partial forfeiture of rights.

The revised details for the disposal are as follows: the disposal date remains October 17, 2025. The number of common shares to be disposed of has changed from 202,800 shares to 186,212 shares. The disposal price per share remains JPY 3,793. Consequently, the total disposal amount has been adjusted from JPY 769,220,400 to JPY 706,302,116. The disposal method remains a third-party allotment to the Rinnai Employee Stock Ownership Association.

The alteration in the number of shares and the total disposal amount is a direct result of the finalized count of members who agreed to participate in the restricted stock incentive program for the employee stock ownership plan.