Mitsubishi UFJ Financial : MUFG Announces Details of Share-Based Compensation Plan for Employees
May 15, 2024 at 05:13 pm IST
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Mitsubishi UFJ Financial Group, Inc. (MUFG)
MUFG Announces Details of Share-Based Compensation
Plan for Employees
Tokyo, May 15, 2024 - MUFG today announced that it has finalized details regarding the shares to be acquired by the ESOP Trust for the Share-Based Compensation Plan[1] (the "Plan"), which it will introduce for employees in management positions who satisfy certain requirements (the "Eligible Employees") at three MUFG subsidiaries (MUFG Bank, Ltd., Mitsubishi UFJ Trust and Banking Corporation, and Mitsubishi UFJ Morgan Stanley Securities Co., Ltd.). The details are as follows.
For the content of the Plan, please refer to the announcement dated March 28, 2024, titled "MUFG to Introduce Share-Based Compensation Plan for Employees.[2]"
1. Details about the shares to be acquired by the ESOP Trust
Amount of trust money
Approximately 4.3 billion yen
(including trust fees and trust expenses)
Timing of acquisition of shares From May 17, 2024 to June 14, 2024 (planned) Method of acquisition of shares Acquisition on the stock market
The Plan adopts a scheme called an Employee Stock Ownership Plan (the "ESOP Trust").
Please refer to the link below for "MUFG to Introduce Share-Based Compensation Plan for Employees." https://www.mufg.jp/dam/pressrelease/2024/pdf/news-20240328-001_en.pdf
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About MUFG
Mitsubishi UFJ Financial Group, Inc. (MUFG) is one of the world's leading financial groups. Headquartered in Tokyo and with over 360 years of history, MUFG has a global network with approximately 2,000 locations in more than 40 countries. The Group has about 120,000 employees and offers services including commercial banking, trust banking, securities, credit cards, consumer finance, asset management, and leasing. The Group aims to "be the world's most trusted financial group" through close collaboration among our operating companies and flexibly respond to all of the financial needs of our customers, serving society, and fostering shared and sustainable growth for a better world. MUFG's shares trade on the Tokyo, Nagoya, and New York stock exchanges. For more information, visit https://www.mufg.jp/english.
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(Reference)
[Outline of the Trust Agreement]
A money trust other than an individually-operated designated
(i) Trust type
money trust
(third party benefit trust)
Trust purpose
Settlor
Trustee
Beneficiaries
Trust administrator
Trust agreement date
Trust period
Start date
Exercise of voting rights
Type of acquired shares
Amount of trust money
Timing of acquisition of shares
Method of acquisition of shares
Holder of vested rights
Residual assets
To provide incentives to eligible employees
MUFG
Mitsubishi UFJ Trust and Banking Corporation (Co-trustee: The Master Trust Bank of Japan, Ltd.)
Eligible employees satisfying the beneficiary requirements
A third party that does not have any interest in the Covered Companies (certified public accountant)
May 16, 2024 (planned)
From May 16, 2024 (planned) to August 31, 2027 (planned)
July 1, 2024 (planned)
No exercise
Ordinary shares of MUFG
Approximately 4.3 billion yen
(including trust fees and trust expenses)
From May 17, 2024 to June 14, 2024 (planned)
Acquisition on the stock market
MUFG
Residual assets that can be received by MUFG, as the holder of the vested rights, shall be within the limit of the trust expense reserve calculated by deducting the cost for acquiring the shares from the Trust from the trust money.
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Mitsubishi UFJ Financial Group Inc. published this content on
15 May 2024 and is solely responsible for the information contained therein. Distributed by
Public, unedited and unaltered, on
15 May 2024 11:39:09 UTC.
Mitsubishi UFJ Financial Group is one of the Japanese largest banking groups. Income breaks down by activity as follows:
- retail and commercial banking (51.9%);
- corporate and investment banking (28.3%);
- market banking (10.5%);
- financial asset management (8.6%);
- other (0.7%).
At the end of March 2022, the group managed JPY 215,427.3 billion of current deposits and JPY 110,426.2 billion of current loans.
Income breaks down geographically as follows: Japan (55%), Asia/Pacific (24.8%), the United States (12.8%), Europe (1.7%) and other (5.7%).