Announcement of Establishment of Employee Stock Ownership Association
Announcement of Establishment of Employee Stock Ownership Association
SHIFT Inc. (“SHIFT,” headquartered in Minato-ku, Tokyo, Japan; Masaru Tange, CEO and Representative Director) announced today that it has resolved to establish Employee Stock Ownership Association and to purchase stock of SHIFT continuously since May 2022.
1. Reason for the establishment
SHIFT aims to increase corporate value further by providing opportunities to purchase and hold the stock of SHIFT and sharing share value with its shareholders while minimizing risks of insider trading and to contribute to improve liquidity in the market by securing certain demands and increasing trading volume.
2. Overview of the association
| (1) Name | SHIFT Employee Stock Ownership Association |
| (2) Qualification for admission | Members must be employees of SHIFT (Voluntary participation) |
| (3) Establishment date | May 2022 (Expecting) |
| (4) Withdrawal date | Voluntary or leaving |
Note 1: To promote its members to share value with shareholders of SHIFT, it does not set incentives.
Note 2: To minimize risks of insider trading related to admission and withdrawal etc. members can admit or leave the association only in April and October with a few exceptions.
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Contact
Taichi Hattori
Director and CFO
ir_info@shiftinc.jp