Lawrence Ho receives shares instead of cash as the operator looks to strengthen its reserves during the Coronavirus crisis. <\/p>\n\n\n\n\n\n\n\n
Australia.- Melco Resorts & Entertainment has granted restricted shares worth \u20ac17million to CEO Lawrence Ho.<\/p>\n\n\n\n
\u201cThe purpose of the aforesaid grant of Restricted Shares to Mr. Ho is to recognize Mr. Ho\u2019s contribution to the success and development of the Melco Resorts Group and to incentivize and motivate him to continue to strive for the future development of the Melco Resorts Group and its business,\u201d parent company Melco International Development said in a statement. <\/p>\n\n\n\n
\u201cThe grant is also part of the cash preservation initiatives implemented by Melco Resorts during the recent COVID-19 pandemic, to satisfy Mr. Ho\u2019s performance bonus for 2019 which he would otherwise have received in cash,\u201dthe filing added.\u00a0<\/p>\n\n\n\n
The CEO was granted restricted shares in respect of 1,553,780 American Depositary Receipts under a share incentive plan. The ADSs closed at $12.40 on the Nasdaq Global Select Market on March 31. <\/p>\n\n\n\n
The restricted shares are not transferable and may not be sold, pledged or otherwise transferred until vested. <\/p>\n\n\n\n
They represent about 0.32 per cent of the company\u2019s issued shares and will be granted in two equal tranches on March 31 2022 and March 31, 2023.<\/p>\n","protected":false},"excerpt":{"rendered":"
Lawrence Ho receives shares instead of cash as the operator looks to strengthen its reserves during the Coronavirus crisis.<\/p>\n","protected":false},"author":2,"featured_media":3407,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Melco Resorts & Entertainment has granted restricted shares worth \u20ac17 million to CEO Lawrence Ho as part of a cash preservation initiative during the Coronavirus crisis. This grant, in lieu of his 2019 performance bonus, aims to recognize his contributions and incentivize future development while strengthening the company's financial reserves. The shares represent approximately 0.32% of issued shares and will vest in two equal tranches in 2022 and 2023.","focusai_entities":"Melco Resorts & Entertainment, Lawrence Ho, Melco Resorts Group, Melco International Development, Nasdaq Global Select Market","focusai_location":"Australia","focusai_target_profile":"ceo_executive (1.0), compliance_legal (0.7), operator_casino (0.9), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (1.0)","focusai_suggestions":[{"label":"Capital Structure Impact?","query":"What is the long-term impact of this share-based compensation on Melco's capital structure and potential shareholder dilution, considering future vesting schedules?"},{"label":"Governance Alignment?","query":"How does this executive compensation strategy align with broader industry trends in crisis management and corporate governance frameworks across the iGaming and hospitality sectors?"}],"footnotes":""},"categories":[16336,28,161,167],"tags":[289,665],"class_list":["post-5257","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-australasia-news","category-casino-news","category-daily-news","category-news-region","tag-australia","tag-melco"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/5257","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=5257"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/5257\/revisions"}],"predecessor-version":[{"id":5263,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/5257\/revisions\/5263"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/3407"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=5257"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=5257"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=5257"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}