Melco International Development Ltd, the Hong Kong-listed parent company of casino operator Melco Resorts & Entertainment, has granted almost 3 million share options to its executive team and selected employees of the group, including 1.5 million options worth HK$19 million (US$2.5 million) to Chairman and CEO Lawrence Ho.
The grant of options comes two weeks after Melco Resorts, which is listed on NASDAQ, granted Ho restricted shares worth US$19.3 million.
According to a Tuesday filing by Melco International Development Ltd, a total of 2,931,000 share options have been granted of which 2,019,000 options are to the directors of the Company.
The exercise price of the options is HK$12.70, representing the closing price of Melco International Development shares on 14 April 2020, with a vesting date of 13 April 2030.
The company said that 1,111,000 options granted can be exercised from 14 April 2020; another 1,108,000 options from 14 April 2021; 356,000 from 14 April 2022 and the remaining 356,000 from 14 April 2023.
Melco International Development Ltd recently reported a 10.5% increase in profit to HK$1.8 billion (US$232.2 million) for the year ended 31 December 2019, driven by an increase in gaming revenues.
