AMC Theaters Shareholders Vote on CEO Adam Aron’s $18.9M Salary Package

In a symbolic move, AMC Theaters shareholders voted on payroll packages for company employees, including CEO Adam Aaron, the exposure giant, which was filed with the Securities and Exchange Commission on Friday.

With a non-binding estimate, 86,896,550 shareholders voted in favor of the compensation paid to AMC executives, while 52,148,743 voted in favor. In April, Theater Network announced that Aaron would receive $18.9 million in 2021, down from $20.9 million in 2020, when most theaters during the pandemic were closed for months. Among other senior executives, CFO Sean Goodman raised $4.7 million, while COO John McDonald raised $3.4 million in 2021.

As voting is optional, there are no financial consequences for the shareholder change, but it is a signal to the theater chain’s management that some investors were dissatisfied with the remuneration structure. The votes were cast at the AMC annual meeting on June 16, the results of which were released on Friday.

Thanks to interest from retail investors, AMC joined GameStop retail as memestock in 2021, its share price hit 59.26 on June 18 last year. This has contributed to the support of the exhibition, the largest in the world, which owns or manages 950 rooms and over 10,000 screens worldwide.

AMC then proceeded to purchase four former Pacific and Arclight theaters and seven theater locations from Bow Tie Cinemas, among other deals. The theater chain became the retail popcorn business, selling “AMC Theaters Perfectly Popcorn” in select malls, developing the microwave popcorn brand, increasing NFT offerings, and considering a co-branded credit card. Aaron, on his personal Twitter account and during calls with investors, also tried to please retail investors, who have been in the theater chain since the beginning of the pandemic.

And in March, the network went beyond its cinematic roots and acquired a $27.9 million stake in gold and silver miner Hycroft Mining. (Aaron later said investors should expect “more than Hycrofts” for “value-added investments where AMC can continue to share our experience and talent.”)

AMC announced in May that its first-quarter loss had shrunk to $337.4 million at cash registers such as Warner Bros. bat ManSupreme sonic the hedgehog 2 and Sony/Marvel Spider-Man: No Way Home. And Aaron pointed to the increase in revenue per customer at its theaters, arguing that the number was “34% higher than pre-pandemic norms and significantly higher than our biggest competitors.”

After the supreme house bows Top Gun: Maverick as well as universal jurassic world dominationAMC noted on June 13 that June 10-12 box office returns topped the same frame by 15% from the pre-pandemic period of 2019, ahead of the Disney/Pixar debut. light-year and from Warner Elvis Corrupted this month.

Since January 3, the first day of trading in 2022, shares in the major theater chain have continued to rise, but have dropped more than 50% this year, from 26.52 shares to 12.53 on January 17.