AMC Entertainment, which has been hit hard by the coronavirus, gave its CEO Adam Aron a compensation package worth $9.67 million in 2019. That period, of course, ended well before the pandemic upended daily life and forced AMC to close all of its more than 630 U.S. locations and furlough roughly all of its 600-person staff. Aron was among the corporate staff who was furloughed.
Aron’s package boasts a base salary of $1.25 million base salary, as well as $6.48 million in stock awards and $1.92 million in non-equity incentive plan compensation. That’s an improvement on the $9.47 million that Aron received in total compensation in 2018 and the $7.45 million in total compensation that he earned in 2017.
Craig Ramsey, the company’s chief financial officer, received a compensation package valued at $2.62 million in 2018, up from $2.51 million in 2018.
AMC hopes to re-open theaters this summer and to begin playing blockbusters such as “Tenet” and “Mulan” by July. When it shuttered its locations there were concerns that it might be forced to file for bankruptcy protection. However, those concerns were alleviated when it raised $500 million in a debt offering.
AMC’s stock closed Wednesday at $5.60, up 9.59%. That was partially due to an analyst report from Eric Handler of MKM Partners that upgraded the company’s stock from “sell” to “neutral,” and reported that its risk of filing for bankruptcy “appears to have subsided.”