Melco International Development said it has granted restricted shares worth just over $10 million to Chairman and CEO Lawrence Ho as an incentive to strive for the improvement of the business.

The 484,956 American Depositary Receipts will be vested in two tranches. Melco is the parent company of Melco Resorts & Entertainment, which operates two IRs in Macau, one in the Philippines and is developing a property on Cyprus.

Company filing