AMC Entertainment Approves Millions of Top Executives Bonuses

(Reuters) – AMC Entertainment Holdings has approved millions in bonuses for its senior executives and eligible employees to preserve shareholder value during the COVID-19 pandemic, the theater operator said.

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

The move comes at a time when movie chains like AMC have taken a hard hit due to coronavirus restrictions that have caused delays in the release of films. The company avoided bankruptcy with a debt restructuring deal last year.

Stocks of the Leawood, Kansas-based company were also one of the “stonks” whose race captivated investors several weeks ago and in which its price jumped more than 860% per year. compared to the start of the year, at its highest level.

AMC shares closed 3.4% lower at $ 8.01 on Friday.