Wynn Macau Limited granted share awards to 4 group employees on June 29th under its employee ownership scheme, allowing them to subscribe for 886,547 ordinary shares at no purchase price, according to a Hong Kong Stock Exchange filing.
The awards represent about 0.02 percent of the company’s issued share capital as of the announcement date. The shares had a closing price of HK$5.07 ($0.65) each on the grant date, implying an aggregate market value of about HK$4.49 million ($573,000).
The company said the awards will be satisfied through the issuance of new shares within the scheme mandate limit.
Vesting schedules differ among the 4 selected participants. Awards granted to 2 employees will vest in 3 equal batches on May 31st of 2027, 2028 and 2029. Another employee’s awards will vest in 4 equal batches on May 31st of 2027, 2028, 2029 and 2030. The remaining employee’s awards will vest in 2 equal batches on January 1st of 2027 and 2028.
The awards are not subject to performance targets. Wynn Macau said the scheme is intended to align eligible participants’ interests with those of the company and shareholders, motivate and attract staff, and recognize contributions to the group’s long-term growth and profits.
