It was a really tough yr for AMC Leisure, the world’s largest theater chain. Its theaters have been darkish for months as coronavirus unfold all over the world, and when some cities and states gave the inexperienced mild for its cinemas to open again up, Hollywood opted to delay lots of its highest-profile releases or ship them to streaming providers. At varied factors, AMC teetered on the sting of chapter.
And but, Adam Aron, the person tasked with main the corporate by these treacherous instances, profited handsomely. The AMC chief’s whole compensation greater than doubled in 2020, topping out at $20.9 million in wage, inventory and bonuses, in response to public filings with the Securities and Trade Fee. That’s in comparison with the $9.7 million that Aron acquired in compensation in 2019 and the $9.5 million he earned in 2018.
Aron acquired solely $1.1 million of his 2020 compensation in wage. He obtained $5 million from two performance-based bonuses, one in October and one other in February, which AMC says was “to acknowledge the extraordinary actions taken by the administration crew in the course of the COVID-19 pandemic.” The majority of Aron’s compensation comes from some $14.8 million in inventory awards. The AMC chief took a pay lower from March by October, in response to sources.
By way of different prime executives, Chief Monetary Officer Sean Goodman earned $4.2 million in whole compensation whereas John McDonald, AMC’s government vp of U.S. operations, netted $3.4 million in whole compensation. Craig Ramsey, the corporate’s former chief monetary officer, earned $377,200.
Aron was in a position to renegotiate the corporate’s debt in the course of the pandemic, which AMC says tremendously improved its liquidity. In the course of the worst of the disaster, AMC furloughed or laid off roughly 26,000 staff and shuttered its roughly 1,000 theaters globally. It’s unclear what number of of these staff have been employed again.