TOKYO, Japan ― Renesas Electronics Corporation (TSE:6723), a premier supplier of advanced semiconductor solutions, today announced a correction of its November 26, 2019 press release entitled “Notice Regarding Issuance of Stock Acquisition Rights as Stock Options.”
1. Reason for the change
The correction is made due to the incorrect information with regards to the calculation method of the amount of payment in exchange of the stock options..
2. Outline of the change
The changes are underlined as below.
[Original Statement]
(13) Amount of payment in exchange for the stock options and calculation method
The amount to be paid in exchange for each stock option shall be an amount obtained by multiplying the Number of Shares to be Granted by the option price per share that is calculated using the Binominal Model based on the basic parameters.
The stock option holder is not required to make any payment of money; monetary receivables owed by Renesas to the stock option holder shall be set off in lieu of the stock option holder paying the above amount to be paid in.
[Revised Statement]
(13) Amount of payment in exchange for the stock options
No monetary payment is required in exchange for the stock options.
(Note) The stock options are granted as compensation for performance duties and the issue of the stock options does not fall upon the issue of stock acquisition rights with specially favorable terms.
About Renesas Electronics Corporation
Renesas Electronics Corporation (TSE: 6723) delivers trusted embedded design innovation with complete semiconductor solutions that enable billions of connected, intelligent devices to enhance the way people work and live. A global leader in microcontrollers, analog, power, and SoC products, Renesas provides comprehensive solutions for a broad range of automotive, industrial, infrastructure, and IoT applications that help shape a limitless future. Learn more at renesas.com. Follow us on LinkedIn, Facebook, Twitter, and YouTube.
(Remarks) All names of products or services mentioned in this press release are trademarks or registered trademarks of their respective owners.
The content in the press release, including, but not limited to, product prices and specifications, is based on the information as of the date indicated on the document, but may be subject to change without prior notice.