ORIX Corp. Disposes of Own Shares as Restricted Stock
Ticker: ORXCF · Form: 6-K · Filed: Oct 2, 2024 · CIK: 1070304
| Field | Detail |
|---|---|
| Company | Orix Corp (ORXCF) |
| Form Type | 6-K |
| Filed Date | Oct 2, 2024 |
| Risk Level | low |
| Pages | 6 |
| Reading Time | 7 min |
| Sentiment | neutral |
Sentiment: neutral
Topics: restricted-stock, share-disposal, corporate-action
Related Tickers: IX
TL;DR
ORIX selling its own stock as restricted stock. Details TBD.
AI Summary
ORIX Corporation announced on October 2, 2024, its intention to dispose of its own shares as restricted stock. The filing does not specify the number of shares or the financial implications of this disposal.
Why It Matters
This action could impact ORIX's share structure and potentially signal changes in employee compensation or incentive plans.
Risk Assessment
Risk Level: low — The filing is an announcement of a standard corporate action with no immediate financial distress indicated.
Key Players & Entities
- ORIX Corporation (company) — Registrant
- Yasuaki Mikami (person) — Signatory for ORIX Corporation
- October 2, 2024 (date) — Filing date and announcement date
FAQ
What is the specific number of ORIX Corporation's own shares being disposed of as restricted stock?
The filing does not specify the exact number of shares being disposed of.
What is the intended purpose of disposing of these shares as restricted stock?
The filing states the disposal is 'as restricted stock' but does not elaborate on the specific purpose, such as employee compensation or incentives.
When will the disposal of these shares take effect?
The filing does not provide a specific effective date for the share disposal.
What is the financial impact of this disposal on ORIX Corporation?
The filing does not include any financial figures or projections related to the disposal of these shares.
Is this disposal related to any specific ORIX Corporation incentive or compensation plan?
While the term 'restricted stock' suggests a link to compensation, the filing does not explicitly detail which plan or plans are involved.
Filing Stats: 1,652 words · 7 min read · ~6 pages · Grade level 17.5 · Accepted 2024-10-02 06:03:55
Filing Documents
- d857161d6k.htm (6-K) — 27KB
- g857161g1002085221267.jpg (GRAPHIC) — 4KB
- 0001193125-24-230621.txt ( ) — 33KB
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. ORIX Corporation Date: October 2, 2024 By /s/ Yasuaki Mikami Yasuaki Mikami Member of the Board of Directors Senior Managing Executive Officer Responsible for Corporate Function Unit Responsible for Work Style Reform Project ORIX Corporation Announcement Regarding Disposal of Own Shares as Restricted Stock Tokyo, Japan October 2, 2024 ORIX Corporation (ORIX or the Company) announced today that it has decided to dispose of its own shares (the Disposal) as follows. 1. Outline of Disposal (1) Date of Disposal December 2, 2024 (2) Class and numberof shares to be disposed 141,700 shares of Common stock of the Company (3) Disposal price 3,363 Yen per share (4) Total value of shares to be disposed 476,537,100 Yen (5) Allottees (the Scheduled Allottees) and number of shares to be disposed Employees of the Company:235 persons 106,600 shares Employees of the Company subsidiaries*: 81 persons 35,100 shares (6) Others An Extraordinary Report under the Financial Instruments and Exchange Act has been submitted with respect to this Disposal. * This refers to our wholly owned subsidiary and any company that is wholly owned by our subsidiary and holds all issued shares. 2. Purpose and Reason for the Disposal Starting from the fiscal year 2024, the Company, along with select group companies has introduced a Restricted Share Grant Plan (the Plan) as an incentive plan primarily targeting manager- and executive-level employees (the Eligible Employees). The objective of the Plan is to further cultivate a sense of involvement in management and to encourage the Eligible Employees to take proactive action to achieve medium- to long-term and sustainable enhancement of corporate value. The outline of the Plan is as follows. [Th