Wynn Macau grants US$26.2m in shares to staff for 20th anniversary
The grants represent approximately 0.68 per cent of Wynn Macau’s issued share capital and were made at no purchase price.
Macau.- Wynn Macau has marked its 20th anniversary by granting nearly 36 million shares to employees and other eligible participants, covering about 95 per cent of its current full-time workforce. The company said 35,975,508 ordinary shares were awarded under its Employee Share Ownership Plan yesterday.
The grants represent approximately 0.68 per cent of Wynn Macau’s issued share capital and went to 11,040 employees, 16 participants from related entities and one service provider. Based on Wynn Macau’s closing share price of HKD5.67 on September 3, the total allocation was worth about HKD204m (US$26.2m).
Wynn Macau said the initiative covers employees at both Wynn Macau and Wynn Palace. The company’s current full-time workforce stands at 11,660. The awards are intended to recognise employees’ contributions and allow them to participate in the company’s long-term growth, it said.
The company also separately recognised employees who joined at Wynn Macau’s opening in 2006. Over 1,400 employees received a 20-year service certificate alongside a share award valued at MOP50,000 (US$6,208) each.
The share grants have different vesting schedules, with those allocated to the 1,451 employees in the long-serving group vesting in two equal portions on September 6, 2026 and September 6, 2027, while those given to the 9,585 other employees will vest in full on September 6, 2027. Most of the awards are not subject to performance conditions.
The anniversary commemorates 20 years since Wynn Macau opened its doors on September 6, 2006. President, vice chairman and executive director Linda Chen said the company’s growth had been supported by its employees and their families, as well as the Macao and central Chinese governments.
