Adastria Co., Ltd. today announced that the company has resolved (written resolution in lieu of a resolution of the Board of Directors) to make an additional contribution to the BIP Trust established in fiscal 2016 for the performance linked stock compensation plan established for Company directors (excluding outside directors and non-residents of Japan). This additional contribution conforms to the provisions of Article 370 of the Companies Act and Article 24, Paragraph 2 of the Company’s Articles of Incorporation. Adastria Co., Ltd. also announced the acquisition of additional shares of Company stock, another subject of the aforementioned resolution.
See Notice Regarding Continuation and Partial Revision of Performance-Linked Stock Compensation Plan for Directors, published April 19, 2023, for an overview of the performance-linked compensation plan.
* Details of the above release can be viewed in PDF file.
Notice Concerning Additional Contribution to Performance-Based Stock Compensation Plan for Directors and Acquisition of Additional Shares