Steve Wynn is taking a salary cut from the company that bears his name, according to a financial filing.

This marks the first time Mr. Wynn has received equity as part of his compensation and now places a greater proportion of his overall compensation attributable to components that drive stockholder value versus fixed base salary.

The filing also says that the term of the employment agreement for Wynn, who is the CEO of Wynn Resorts, was extended through Oct. 24, 2022. That’s a two-year extension.