Suncorporation (TYO:6736) will receive 3,489,202 shares of Nasdaq-listed Cellebrite DI, its equity-method affiliate, after Cellebrite's share price reached $17.5 on Nov. 1, 2024, according to a Wednesday filing on the Tokyo Stock Exchange.
This brings Suncorporation's total shares under the compensation agreement to 10.5 million, with no impact on operating profit as the shares are issued at no cost.
The issuance follows Cellebrite's 2021 NASDAQ listing agreement, which allows for up to 15 million shares to be distributed based on price thresholds.
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