Ono Pharmaceutical (TYO:4528) board approved the disposal of 20,900 treasury shares totaling 47 million yen under its tenure-based restricted stock compensation plan.

The board has also approved the disposal of 179,000 treasury shares totaling 402.7 million yen under its performance-based restricted stock compensation plan.

The tenure-based shares were allocated to three directors, excluding outside directors, while performance-based shares were allocated to three directors, excluding outside directors, and 13 corporate officers, not on the company board, according to a Thursday filing on the Tokyo Stock Exchange.

The disposal will be completed on July 10.

Ono's shares fell 2% in recent trade.