TOKYO, Japan ― Renesas Electronics Corporation (“Renesas”, TSE: 6723), a premier supplier of advanced semiconductor solutions, today announced that it has decided by the resolution of the Board of Directors on September 26, 2018, certain subscription items for stock acquisition rights to be issued as stock options for employees of its subsidiaries. Renesas has also determined items regarding taking applications or persons who will receive these stock options. The terms and conditions are as outlined below.
I. Reason for issuance of stock acquisition rights as stock options
The purpose of the issuance of stock options is to encourage employees of Renesas, as well as directors (excluding outside directors) and employees of its subsidiaries to share the merits of a rise in Renesas’ share value and the risks of a drop in the share value with the shareholders, and to increase their desire to further contribute to increasing Renesas' stock price and increasing the value of the company.
II. Details of the stock options to be granted
2. Regarding "Renesas Electronics Corporation Stock Options for FY2018 (Series No.5)"
(1) Name of the stock options: "Renesas Electronics Corporation Stock Options for FY2018 (Series No.5)"
(2) Number of the stock options granted and number of eligible persons:
Renesas will grant 1,827 stock options to 22 employees of Renesas subsidiaries located outside Japan.
(3) Total number of the stock options: 1,827
However, the total number of the stock options described above is the expected number of stock options to be allotted. If the total number of stock options to be allotted decreases due to a lack of applications for subscription or for other reasons, the total number of stock options to be allotted will be the total number of stock options to be issued.
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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.
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.