AMC Entertainment approves millions in bonuses to top execs

Reuters2021-02-27

Feb 26 (Reuters) - AMC Entertainment Holdings has approved millions in bonuses to its top executives and eligible employees as a means to preserve stockholder value during the COVID-19 pandemic, the theater operator said.

In a regulatory filing on Friday, the company said Chief Executive Officer Adam Aron would receive $3.75 million as bonus, while other top executives are entitled to bonuses of $173,000 to $507,000.

The move comes at a time when cinema chains like AMC have taken a blow due to coronavirus-led restrictions that caused delays in film releases. The company staved off bankruptcy through a debt restructuring deal last year.

Shares of the Leawood, Kansas-based company were also one of the "stonks" whose wild ride captivated investors several weeks ago and during which its share price surged more than 860% compared with the beginning of the year, at its highest.

AMC's shares closed down 3.4% at $8.01 on Friday.

(Reporting by Eva Mathews in Bengaluru; Editing by Maju Samuel)

((Eva.Mathews@thomsonreuters.com;))

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Comments

waihustle
2021-03-01
waihustle
Terrible executive.
kokfann
2021-02-28
kokfann
These top execs are terrible
Humble_Teoh
2021-02-27
Humble_Teoh
Means AMC is cash rich?
Angsana
2021-02-27
Angsana
They got earn money meh
HLPA
2021-02-27
HLPA
Phew!
megxa
2021-02-27
megxa
Bear

Leave a comment

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