Pigeon Corporation
Notice Regarding Continuation and Partial Revision of the Performance-Linked Stock Compensation Plan for Directors
The performance-linked stock compensation plan for directors will be continued from 2026 through 2028, with a planned revision to raise the upper limit of shares obtainable from the equivalent of 65,000 shares to 120,000 shares.
Key Figures
- Upper limit on number of shares directors can acquire (per fiscal year): Equivalent to 120,000 shares (after revision)
- Upper limit on number of shares directors can acquire (cumulative over 3 fiscal years): Equivalent to 360,000 shares (after revision)
- Range of performance evaluation indicator variation: 0–200% (after revision)
AI要約
Regarding the Continuation of the Performance-Linked Stock Compensation Plan
Pigeon Corporation has resolved to continue the performance-linked stock compensation plan (BIP Trust), introduced in fiscal 2019 for directors (excluding outside directors), for three fiscal years from 2026 through 2028. This plan aims to enhance the linkage between director compensation, corporate performance, and shareholder value, thereby improving corporate value over the medium to long term. The continuation is conditional upon approval at the 69th Annual General Meeting of Shareholders scheduled for March 27, 2026.
Details of Partial Revisions to the Plan
Under the revision, the upper limit of shares that directors can acquire will be increased from the previous equivalent of 65,000 shares to 120,000 shares, and the cumulative limit over three fiscal years will rise from 195,000 shares to 360,000 shares. Additionally, the range of variation for the performance evaluation indicator will be expanded from the previous 0–150% to 0–200%, creating a compensation system that more closely reflects performance. Shares will be acquired from the market, so no dilution will occur.
