Orix announces disposal of 142,400 restricted shares to employees

Orix Corporation (TSE:8591; NYSE:IX) announced Wednesday that it will dispose of 142,400 of its own common shares as restricted stock to employees of the company and its subsidiaries under its Restricted Share Grant Plan. The announcement was made in a statement based on a filing with the U.S. Securities and Exchange Commission.

The shares will be allotted to 234 employees of Orix Corporation and 84 employees of its subsidiaries. Of the total, 106,400 shares are designated for company employees and 36,000 shares for subsidiary employees.

The disposal price is set at ¥3,882 per share, resulting in a total value of ¥552,796,800. The payment date for the allotted shares is scheduled for December 1, 2025. According to the filing, the paid-in amount from this offering will not be incorporated into capital, as the transaction involves the disposal of treasury shares.

The restricted shares will be managed in dedicated accounts at Nomura Securities Co., Ltd. and will be subject to transfer restrictions from December 1, 2025, to November 30, 2028. Transfer restrictions will be lifted if the employee remains in an eligible position throughout the restriction period. If an employee leaves due to retirement or other company-approved circumstances, restrictions may be lifted earlier. If an employee leaves for other reasons during the restriction period, the company may acquire the shares without consideration.

The filing also outlines provisions in the event of organizational restructuring, such as mergers or share exchanges, allowing Orix to lift transfer restrictions or acquire shares without consideration as appropriate.

The transfer institution for these shares is the Japan Securities Depository Center, Incorporated, based in Tokyo.

This article is based on a press release statement and information disclosed in a SEC filing.

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