Melco announces Share Purchase and Award Program for employees
Melco Resorts & Entertainment Limited has adopted a Share Purchase and Award Program, meant to recognise the dedication and commitment of its employees. The program is meant to allow the eligible staff to benefit from the company’s success.
According to the statement, employees are considered eligible if they agreed to participate in the company’s voluntary leave program back in 2020, during the height of Covid-19. Voluntary leave was one of the measures Melco took to mitigate the impact the pandemic had on the company.
The Share Purchase and Award Program will be active from July 2021 to June 2022. During the period, the eligible employees can use part of their base salary to “purchase and receive a grant of restricted shares under the Melco Resorts 2011 Share Incentive Plan, with an aggregate value equal to 200% of the amount of base salary so applied as at the grant date.”
The total amount of shares issued under the program represents less than 0.5% of the company’s total shares outstanding as of 8 July 2021.
“The Share Purchase and Award Program demonstrates our recognition of the dedication and commitment our colleagues have demonstrated during the height of the Covid-19 pandemic last year,” said Lawrence Ho, Chairman & CEO of Melco Resorts & Entertainment. “As the pandemic gradually subsides, we would like to extend our gratitude and appreciation to all our colleagues and ensure they have the chance to capitalize on the long-term growth of the company.
“Our colleagues are always the single most important ingredient to delivering future success.”
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