Summary by Futu AI
Sony Group Corporation announced on November 8, 2024, the granting of Restricted Stock Units (RSUs) to employees and the filing of a shelf registration statement for new share issuance or treasury share disposal. The plan covers 3,897 recipients, including employees of Sony and its subsidiaries, with up to 7,457,119 shares to be granted.The RSUs will vest over three years, subject to continued employment. Sony filed a shelf registration for up to 25,800 million yen in shares, effective from November 16, 2024, to November 15, 2026. The company estimates issuing around 21.4 million shares upon RSU vesting during this period.This move is part of Sony's stock compensation plan introduced in the fiscal year ended March 31, 2023. The shares will be allocated through in-kind contribution of monetary compensation receivables, with provisions for cash payments in certain circumstances. Sony will also file a Form S-8 registration statement with the U.S. SEC for the share delivery under this plan.