Wynn Macau will allow some selected employees to subscribe to approximately 0.03 percent of its share capital as part of a new employee grant award.
Under this employee ownership scheme, four Wynn employees will be able subscribe to an aggregate of 1,687,326 ordinary shares of HK$0.001 each. At the time when the grant was awarded on August 18th the closing Wynn Macau share price was HK$7.14.
The Hong Kong Stock Exchange dispatch signed by Wynn’s chairman, Allan Zeman, indicated that the share awards will be vested in several batches, with a total vesting period of more than 12 months.
The awards granted to two employees will be vested 25 percent on June 1st, 2024, another 25 percent on June 1st, 2025,
another 25 percent on June 1st, 2026, and 25 percent on June 1st, 2027.
The other two employees will receive 15 percent of their respective share awards on June 1st, 2024, 25 percent on June 1st 2025, 25 percent on June 1st, 2026, and 35 percent on June 1st, 2027.
Wynn has stated that none of the selected participants is a director, chief executive or substantial shareholder of the company or their respective associates or otherwise a connected person of the company.
After the above grant of awards, 522,155,834 and 10,476,863 underlying shares will be available for future employment award schemes.