Melco grants Winkler share options

Melco International Development says it has granted 14.2 million share options to new president and managing director, Evan Andrew Winkler, to incentivise him to drive further share price gains.

The options allow Winkler to subscribe for 14.2 million ordinary shares in the group.

The vesting price of the options is HK$18.96, which was the closing price of the shares on the day of the grant, Melco said.

Winkler was appointed president of Melco Resorts & Entertainment effective Sept. 4.

The options were a “special hire-on equity grant” and will replace a cash portion of Winkler’s remuneration, including his annual discretionary bonus, from Oct. 2019 through to June 2022.

“Such reformulation of Mr. Winkler’s remuneration package by the company,

with Mr. Winkler’s consent, recognises his valuable contributions to the group’s business

since joining and, in the opinion of the board, is better aligned with the company’s objective of

incentivising Mr. Winkler to drive further significant share price growth going forward.”