Around three million share options have been granted, with Chairman and CEO Lawrence Ho taking 1.5 million of them.
Hong Kong.- Around three million share options will be given to selected executives and employees from Melco International Development, the parent company of casino operator Melco Resorts & Entertainment.
The Hong Kong-based business will include 1.5 million options worth HK$19million (US$2.5million) to Chairman and CEO, Lawrence Ho.
This grant of share options is aligned with news from two weeks ago that NASDAQ listed Melco Resorts granted Ho restricted shares worth US$19.3million.
According to Tuesday’s filing, Melco International Development will give a total of 2,931,000 share options to distribute, of which 2,019,000 options will be granted to company directors.
The company also added that 1,111,000 options granted can be exercised from today (April 14th), while another 1,108,000 options a year from today (April 14th 2021).
An additional 356,000 will be granted from two years from now (April 14th 2022) and the remaining 356,000 in three years (April 14th 2023).
With the exercise price listed at HK$12.70, it represents the closing price of Melco International Development shares on today’s date (April 14th), with a vesting date of 13 April 2030.