Wynn executives exchange salary for company stock to help fund employee payroll Howard Stutz, CDC Gaming Reports · March 25, 2020 at 5:56 am Wynn Resorts said Tuesday that the company’s top executives have agreed to forego all or a portion of their salaries in exchange for stock in the casino operator during the current shutdown of properties in Las Vegas and Boston due to the coronavirus pandemic. In a statement, Wynn Resorts said the cash savings would be used to supplement ongoing employee payroll and other expenses. The company announced last week it would pay its roughly 13,000 employees, including their average tips, after it closed its resorts to help reduce community spread of the virus. CEO Matt Maddox agreed to forego 100% of his salary for the remainder of the year in exchange for Wynn Resorts shares. According to a Securities and Exchange Commission filing in December, Maddox earns $1.9 million in salary. In a filing with the SEC late Tuesday, Maddox received 32,701 restricted shares of Wynn Resorts common stock with a price of $0. The stock will vest on Dec. 31. Directors and other executives are foregoing between 33% and 100% of their salaries. Shares of Wynn Resorts, which have fallen 76% in the past month, closed at $66.56 on the Nasdaq Tuesday, up $8.99 or 15.62% Howard Stutz is the executive editor of CDC Gaming Reports. He can be reached at firstname.lastname@example.org. Follow @howardstutz on Twitter.