Wynn Resorts Executives Exchange Salary for Shares

Several members of Wynn Resorts’ leadership team have opted to get a reduced salary in exchange for shares in the company. This is yet another effort to boost Wynn’s damaged stock.

Executives Pick Shares Over Cash
The most notable executive to reduce his salary was none other than Craig Billings, Wynn Resorts’ chief executive officer. According to the details of Form 4 filings with the Securities and Exchange Commission, Billings chose to take 35% less in cash for the remainder of the year. Instead, the CEO will get the same value in Wynn Resorts limited common stock until December 31. Billings’ stock will be exercisable on December 31 this year and is set to expire on May 11, 2025.

Billings has served as the company CEO for three months now and is setting an example for other high-ranking workers. Notable directors and executives followed the move and decided to waive a part of their salary in exchange for stock.

Source: https://www.gamblingnews.com/news/wynn-resorts-executives-exchange-salary-for-shares/