TOKYO, Japan― Renesas Electronics Corporation (“Renesas”, TSE: 6723), a premier supplier of advanced semiconductor solutions, today announced that a decision has been made at the resolution of the Board of Directors effective July 30, 2020, regarding certain subscription items for stock acquisition rights to be issued as stock options, both as voluntary one yen stock option and stock compensation stock option for directors, corporate officers and employees of Renesas as well as directors and employees of Renesas’ subsidiaries. Renesas has also determined items regarding taking applications for persons who will receive these stock options. The terms and conditions are as outlined below.
[Outline of Resolutions]
- For directors, corporate officers and employees of Renesas as well as directors and employees of Renesas’ subsidiaries residing in Japan, Renesas will accept the application from a person who will receive the "Renesas Electronics Corporation Stock Options for FY2020 (Series No.3)", and will grant those stock options on August 31, 2020 (Japan Standard Time).
- For corporate officers of Renesas as well as directors and employees of Renesas’ subsidiaries residing outside Japan, Renesas will accept the application from a person who will receive the "Renesas Electronics Corporation Stock Options for FY2020 (Series No.4)" and will grant those stock options on August 31, 2020 (Japan Standard Time).
- For employees of Renesas and its subsidiaries residing in Japan, Renesas will accept the application from a person who will receive the "Renesas Electronics Corporation Stock Options for FY2020 (Series No.5)", and will grant those stock options on August 31, 2020 (Japan Standard Time).
- For employees of Renesas’ subsidiaries residing outside Japan, Renesas will accept the application from a person who will receive the "Renesas Electronics Corporation Stock Options for FY2020 (Series No.6)" and will grant those stock options on August 31, 2020 (Japan Standard Time).
I. Reason for issuance of stock acquisition rights as stock options
By issuing such stock options to members comprising of directors, corporate officers and employees of Renesas as well as directors and employees of its subsidiaries, Renesas will be able to retain excellent talents as well as to have them share the advantages and risks of rises and falls in the value of Renesas shares with all the shareholders. Therefore, the stock options encourage them to contribute to increasing the share price and the enterprise value, which will ultimately lead to improving the corporate value of the Renesas Group.
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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.
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