Akebono Brake Industry Co., Ltd.
Notice on Partial Revision of the Terms for Issuance of Stock- Compensation-Type Stock Options (Stock Acquisition Rights)
At today's board meeting, we revised the issuance terms for the 14th series of performance-based stock options with mid- to long-term performance conditions. Updated details on exercise conditions, and handling upon abolition/cancellation. Based on independent valuation, confirmed that this does not constitute a favorable issuance.
Key Figures
- Stock option categories: Ⅰ．14th series (A) mid-term performance-based stock option, II．14th series (B) long-term performance-based stock option
- Added requirement of 70% or more for exercise: upon abolition/withdrawal of the medium-term management plan
- Details of handling upon loss of rights: application of conversion ratio when legitimate reasons recognized
AI要約
Section Heading
曙ブレーキ工業 has changed the issuance terms for stock-compensation-type stock options targeting directors, corporate officers, and senior managers. The purpose of the change is to improve the incentive function for medium- to long-term corporate value, reviewing the handling upon loss of exercise eligibility and the definition of the eligible period. We have obtained confirmation that, based on external fair value assessments, this does not constitute an advantageous issuance.
Section 2 Heading
The change includes: ① revisions to the terms for exercising the new stock options for the mid-term (A) and long-term (B) options, particularly the introduction of a 70% threshold for exercising during the abolition/withdrawal of the medium-term management plan, clarification of restrictions on exercise upon loss of rights, and rationalization of handling when legitimate reasons such as retirement are recognized. This design aims to enhance fairness of exercise and promote long-term increase in corporate value.
曙ブレーキ工業株式会社
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