Sinatra left Wynn with $9m in cash, stock
Nevada report said she failed to act on sexual misconduct allegations
KIM SINATRA, a top Wynn Resorts official caught up in the scandal over Steve Wynn’s sexual misconduct, walked out the door of the company last summer with more than $9 million in cash and stock, according to a company proxy statement released on Wednesday.
Sinatra received a cash severance payment of $1.8 million and stock worth $7.3 million when she left the company on August 3, 2018, according to the proxy statement.
As the company’s former executive vice president, general counsel, and secretary, Sinatra played a key role in winning the license to open a casino in Everett. In January, Nevada gaming regulators identified her as one of several officials who became aware of sexual misconduct allegations made against Steve Wynn but failed to take any action. The Massachusetts Gaming Commission is expected to unveil its own report on Steve Wynn’s sexual misconduct next week.
Steve Wynn left the company in February 2018 and sold all his stock holdings. He did not receive a severance agreement and agreed not to compete against the company for two years, according to the proxy statement.Matt Maddox, the company’s current chief executive officer and president, saw his base salary rise from $1.5 million in 2017 to $1.9 million last year and $2 million this year. His total compensation, including salary, stock awards, and other compensation, hit $17 million last year, which was less than the $24.8 million he received in 2017. Steve Wynn’s salary in 2017, his last full year with the company, was $2.5 million and his total compensation was $34.5 million.
The proxy statement also reveals that top Wynn executives who spend time in Massachusetts are reimbursed by the company for any taxes they owe here. Wynn, even though he left the company in February 2018, received $19,553 to cover taxes owed in Massachusetts in 2018. Maddox received $14,445 and Sinatra was paid $17,184.