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Adam Aron’s 2023 Pay Package Rises To $25 Million; AMC Entertainment CEO Says It’s Worth Much Less At Current Stock Price
AMC said CEO Adam Aron's 2023 compensation package totaled $25 million including a big stock award. It's worth less a the current share price. he said.
In a proxy statement filed with the SEC, the compensation committee of the world’s biggest exhibitor cited progress on several fronts last year in a challenging climate for theatrical as Hollywood strikes interrupted a nascent post-Covid recovery. The proxy ticked off management accomplishments during a difficult time including rising revenue, positive adjusted ebitda (earnings before interest, taxes, depreciation and amortization), chipping away at AMC’s hefty debt, and raising cash through equity sales. A slow start to the box office in 2024 with fewer wide releases had clipped projections for exhibition although things may be looking and are expected to rebound in the second half.
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