CEO and chairman of the casino operator Melco Resorts and Entertainment Ltd, Lawrence Ho Yau Lung, has been granted restricted shares by the casino operator.
The casino operator Melco has granted shares worth $10.03m in market value to Ho under the Melco Resorts Share Incentive Plan.
According to reports, this means that the shares equal to 484,956 American depositary shares (equivalent to 1,454,868 Melco Resorts shares). The operators’s ADSs are listed on the Nasdaq Global Select Market in the US.
The shares will be granted to Mr. Ho in two equal tranches on 7 April 2023 and 7 April 2024, each tranche containing 242,478 ADSs.