Notice Concerning Continuation of Stock Remuneration System for Officers and Share Award System for Employees in Managerial Positions
At its Board of Directors meeting convened today, Mitsubishi Heavy Industries, Ltd. (MHI) voted to extend its Board Incentive Plan (BIP) Trust, a stock-based remuneration system for Directors (excluding Outside Directors and Directors who are Audit and Supervisory Committee members) of MHI and Directors and Executive Officers (hereinafter collectively referred to as “Directors, etc.”) of MHI’s major group companies, as well as its Employee Stock Ownership Plan (ESOP) Trust, a stock award system for employees in core managerial positions (hereinafter collectively referred to as “Officers”) at MHI and its major group companies. Both the BIP and ESOP trusts have been in place since 2015. Details concerning the additional monetary contributions to be made to these trusts, the number of Company shares to be additionally acquired and their acquisition method, etc. are presented below.