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AMC Entertainment approves millions in bonuses to top executives

Published 02/26/2021, 06:45 PM
Updated 02/26/2021, 08:45 PM
© Reuters. Closed signs are seen on an AMC Theatre during the outbreak of the coronavirus disease (COVID-19), in New York

(Reuters) - AMC Entertainment (NYSE:AMC) Holdings has approved millions in bonuses to its top executives and eligible employees as a means to preserve stockholder value during the COVID-19 pandemic, the theater operator said.

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

The move comes at a time when cinema chains like AMC have taken a blow due to coronavirus-led restrictions that caused delays in film releases. The company staved off bankruptcy through a debt restructuring deal last year.

Shares of the Leawood, Kansas-based company were also one of the "stonks" whose wild ride captivated investors several weeks ago and during which its share price surged more than 860% compared with the beginning of the year, at its highest.

AMC's shares closed down 3.4% at $8.01 on Friday.

Latest comments

Through extreme over shorting and the worst economic situation since depression they made it through. Works for me.
Fake News
GME executives havebeen quiet and not tried to profit from Wsb rally but AMC keep putting it in their pocket. Sorry but I do not trust them.
As a business its the smart thing to do. Only reason gme didnt was fear but that fear hurts them in the long run.
the employees get bonus for doing *****job seems about right. idk but if I lost my company a soda I would get fired
guess their employees are taken care of.
Seems the only reason for their debt was their incredible growthZ. Easily solved through adjustments with the realestate.
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