Benzinga | Jul 8, 2021 11:51AM EDT

Melco Resorts Adopts Share Purchase and Award Program To Recognize Employees

* Melco Resorts & Entertainment Ltd (NASDAQ:MLCO) has adopted a Share Purchase and Award Program for its employees.

* This plan applies to eligible employees who agreed in 2020 to participate in the voluntary leave program.

* Under this program, an eligible employee can use a portion of the base salary to purchase and receive a grant of restricted shares under the Melco Resorts 2011 Share Incentive Plan.

* The term of the plan is from July 2021 to June 2022.

* The maximum amount of restricted shares issued under the program represents less than 0.50% of the company's total shares outstanding as of July 8, 2021.

* "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," said CEO Lawrence Ho.

* Price action: MLCO shares are trading lower by 2.34% at $15.67 on the last check Thursday.