Adastria Co., Ltd. (the “Company”) 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 ("Trust") established in fiscal 2016 for the performance-linked stock compensation plan (“Plan”) established for Company directors (excluding directors who are members of the Audit and Supervisory Committee, 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. The Company also announced the acquisition of additional shares of Company stock, another subject of the aforementioned resolution.
See Notice Concerning Partial Revision of Performance-Linked Stock Compensation Plan for Directors, published April 17, 2024, 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