Wynn Resorts (NASDAQ: WYNN) CEO Craig Billings has signed a four-year contract extension to remain at the helm of the casino operator, and received a healthy raise.
The Las Vegas-based gaming giant revealed details of the “Billings Amendment” in a Form 8-K filing with the Securities and Exchange Commission (SEC) last Friday.
The Billings Amendment, which is effective as of June 1, 2023, extends the term of Mr. Billings’ employment agreement through June 1, 2027 and also provides for the following compensation changes: (i) an increase to his annual base salary from $1,800,000 to $2,000,000, (ii) an increase to his annual target bonus from no less than 200% to no less than 250% of his annual base salary, (iii) an increase in the target value of his annual equity grant of restricted stock from 375% to 410% of his annual base salary,” according to the filing.
The Las Vegas-based gaming giant revealed details of the “Billings Amendment” in a Form 8-K filing with the Securities and Exchange Commission (SEC) last Friday.
The Billings Amendment, which is effective as of June 1, 2023, extends the term of Mr. Billings’ employment agreement through June 1, 2027 and also provides for the following compensation changes: (i) an increase to his annual base salary from $1,800,000 to $2,000,000, (ii) an increase to his annual target bonus from no less than 200% to no less than 250% of his annual base salary, (iii) an increase in the target value of his annual equity grant of restricted stock from 375% to 410% of his annual base salary,” according to the filing.