Notice Regarding Issuance of Stock Acquisition Rights as Stock Options
TOKYO, Japan, April 26, 2017― Renesas Electronics Corporation (“Renesas”, TSE: 6723), a premier supplier of advanced semiconductor solutions, today announced that it has resolved at the Meeting of Board of Directors held on April 26, 2017, certain subscription items for stock acquisition rights to be issued as stock options for employees of Renesas’ subsidiary. 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’ subsidiary 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
(1) Name of the stock options: " Renesas Electronics Corporation Stock Options for FY2017 (Series No.3)"
(2) Number of the stock options granted and number of eligible persons:
Renesas will grant 309 stock options to seven employees of Renesas subsidiary.
(3) Total number of the stock options: 309
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.
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—securely and safely. The number one global supplier of microcontrollers, and a leader in Analog & Power and SoC products, Renesas provides the expertise, quality, and comprehensive solutions for a broad range of Automotive, Industrial, Home Electronics (HE), Office Automation (OA) and Information Communication Technology (ICT) applications to help shape a limitless future. Learn more at renesas.com.