Recruit Holdings Considers Implementing Equity-Based Incentive Plan for Employees in the HR Technology SBU
Sep 30, 2020 | Recruit Holdings Co., Ltd.
TOKYO, JAPAN (September 30, 2020) - Recruit Holdings Co., Ltd. (TSE 6098) (the "Company") announced today that it will consider implementing an equity-based incentive plan using the Company's stock for employees in its HR Technology SBU (Strategic Business Unit) and also consider discontinuing the current long-term cash incentive plan in the future, as the HR Technology SBU has grown steadily and has become the core business for executing the Company's mid- to long-term strategies.
Through this potential equity-based incentive plan, the Company seeks to emphasize to its employees in the HR Technology SBU the significance of the contributions they make toward enhancing the corporate value in the mid- to long-term.
Equity-based incentives have become a standard practice for publicly listed global technology companies. As a result, the Company believes that the implementation of such a plan will be an invaluable tool for recruiting and retaining talent globally.
Employees in the HR Technology SBU are the primary target of the consideration, and the Company will disclose the details of the equity-based incentive plan and date of implementation when decided. If various restrictions make it impracticable to implement an equity-based incentive plan, then the Company will consider implementing an alternative long-term incentive plan that is cash-based and that yields similar results. This announcement does not constitute an offer to sell or the solicitation of an offer to buy any security of the Company in any jurisdiction.