Wynn Resorts CEO takes stock options for 10% pay cut
Wynn Resorts’ CEO exchanged a 10% base salary reduction for new stock option grants with pro-rata vesting if he leaves before July 31, 2027.
Rhea-AI Filing Summary
WYNN RESORTS LTD (WYNN) reported that CEO and director Craig Scott Billings received two grants of employee stock options on September 17, 2026 in exchange for a voluntary 10% reduction in his base salary through July 31, 2027. The awards cover 4,228 and 8,535 options to buy common stock at an exercise price of $82.96 per share, vesting on December 15, 2026 and July 31, 2027, respectively. After these grants, Billings holds 262,335 shares directly and 156,189 shares indirectly through a family trust, and no Rule 10b5-1 trading plan is reported. If his employment ends before July 31, 2027, the options vest on a pro-rata basis.
Positive
- None.
Negative
- None.
Insider Trade Summary
Grant/Award: 12,763 shares
Grant/Award
4 txns
Insider
Billings Craig Scott
Role
CEO
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Stock Options (right to buy) F1 | 4,228 | $0.00 | $0.00 |
| Grant/Award | Stock Options (right to buy) F1 | 8,535 | $0.00 | $0.00 |
| holding | Common Stock, par value $0.01 per share | -- | -- | -- |
| holding | Common Stock, par value $0.01 per share | -- | -- | -- |
Holdings After Transaction:
Stock Options (right to buy) — 12,763 contracts (Direct);
Common Stock, par value $0.01 per share — 262,335 shares (Direct);
Common Stock, par value $0.01 per share — 156,189 shares (Indirect, By Family Trust)
Footnotes (1)
- F1. Options to acquire shares of common stock of Wynn Resorts, Limited (the "Company") granted pursuant to the Company's Third Amended and Restated 2014 Omnibus Incentive Plan. On September 17, 2026, Mr. Billings voluntarily reduced the cash amount of his base salary through July 31, 2027 by 10% in exchange for a grant of an equivalent value of options to acquire the Company's common stock. Such stock options granted in lieu of 2026 salary amounts will vest on December 15, 2026 and stock options granted in lieu of 2027 salary amounts will vest on July 31, 2027. Should Mr. Billings leave his employment prior to July 31, 2027 for any reason, the options shall vest on a pro-rata basis.
Key Figures
Stock options granted (2026 salary in lieu): 4,228 options
Stock options granted (2027 salary in lieu): 8,535 options
Exercise price: $82.96 per share
+3 more
6 metrics
Stock options granted (2026 salary in lieu)
4,228 options
Grant on September 17, 2026 vesting December 15, 2026
Stock options granted (2027 salary in lieu)
8,535 options
Grant on September 17, 2026 vesting July 31, 2027
Exercise price
$82.96 per share
Exercise price for both option grants
Base salary reduction
10%
Voluntary reduction of base salary through July 31, 2027 in exchange for options
Direct common shares held
262,335 shares
Direct ownership following the reported transactions
Indirect common shares held
156,189 shares
Indirect ownership via family trust following the reported transactions
Key Terms
Stock Options (right to buy), exercise price, Third Amended and Restated 2014 Omnibus Incentive Plan, pro-rata basis, +1 more
5 terms
Stock Options (right to buy) financial
"Security titled "Stock Options (right to buy)" was granted"
exercise price financial
"Conversion or exercise price reported as $82.96 per share"
The exercise price is the fixed amount at which you can buy or sell an asset, like a stock, when using an options contract. It matters because it helps determine whether exercising the option will be profitable or not, depending on the current market price. Think of it as the set price you agree on today to buy or sell later.
Third Amended and Restated 2014 Omnibus Incentive Plan financial
"Options were granted pursuant to the Company’s Third Amended and Restated 2014 Omnibus Incentive Plan"
pro-rata basis financial
"If he leaves before July 31, 2027 the options shall vest on a pro-rata basis"
Allocation or distribution that gives each participant a share proportional to their existing ownership, stake or entitlement — like slicing a pie so everyone gets a piece matching how big their original slice was. For investors this matters because it determines how much of new shares, dividends, fees or obligations they receive, helps preserve or change ownership percentages, and directly affects dilution and voting power.
Rule 10b5-1 regulatory
"No Rule 10b5-1 trading plan is reported for these transactions"
Rule 10b5-1 is a regulation that allows company insiders to buy or sell their shares at predetermined times, even if they have access to non-public information. It acts like setting a schedule in advance for transactions, helping prevent accusations of unfair trading. This rule provides a way for insiders to plan trades transparently, giving investors confidence that these transactions are not based on hidden information.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What did WYNN CEO Craig Scott Billings report on this Form 4 for Wynn Resorts (WYNN)?
He reported two grants of stock options on September 17, 2026, received as compensation in exchange for a 10% reduction in his base salary through July 31, 2027, under Wynn Resorts’ Third Amended and Restated 2014 Omnibus Incentive Plan.
How many stock options did the WYNN CEO receive and at what exercise price?
Craig Scott Billings received 4,228 options and 8,535 options, each giving the right to buy Wynn Resorts common stock at an exercise price of $82.96 per share, according to the Form 4 disclosure.
When do the new WYNN stock options granted to the CEO vest?
Options granted in lieu of 2026 salary vest on December 15, 2026, and options granted in lieu of 2027 salary vest on July 31, 2027. If Craig Scott Billings leaves before July 31, 2027, the options vest on a pro-rata basis.
Was a Rule 10b5-1 trading plan involved in the WYNN CEO’s Form 4 transactions?
No. The filing indicates no Rule 10b5-1 plan was affirmed for these transactions; the document-level checkbox for such a plan is marked as not applicable for the reported grants.
What happens to the WYNN stock options if the CEO leaves before July 31, 2027?
If Craig Scott Billings leaves employment before July 31, 2027 for any reason, the footnote states that the options will vest on a pro-rata basis rather than fully vesting.
AI-generated analysis. How Rhea-AI works. Not financial advice.
