Monday, August 08, 2022

Steve Wynn annual renumeration fell 18 percent in 2015


Founder and chief executive officer Wynn Resorts, Steve Wynn’s annual remuneration fell 18 percent last year to US$20.7 million, according to a US SEC filing.

The board of Wynn Resorts said Mr. Wynn’s annual incentive was cut to $17.5 million, half paid in cash and half paid in shares, and cut his salary to $2.5 million from $4 million so that a larger share of the pay package would be tied to the performance of the company.

The company said it made the decision to reduce the payouts for each NEO between 20-30 percent based on “various factors”, including the pressures as a result of Las Vegas and Macau operations and the “competitive landscape of the labor market.”

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