AMC Theatres CEO Adam Aron received compensation of $25.4 million in 2023, up from $23.7 million in 2022 and $18.9 million in 2021, according to the cinema giant’s proxy statement filed with the Securities and Exchange Commission.
That included a base salary of $1.5 million, stock awards of $17.9 million and non-equity incentive plan compensation of $6 million.
In early 2021, AMC became a popular stock among “meme” traders after the company appeared close to bankruptcy amid the pandemic fallout at movie theater chains.
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The stock surge helped the company strengthen its financial position and diversify its revenue streams — the latest initiative is starting to sell branded microwave and ready-to-eat movie popcorn varieties, initially at Walmart.
Aron’s base salary was $1.5 million in 2023, flat from $1.5 million in 2022 and from $1.45 million a year earlier. He took home a bonus of $5 million in 2020, but received no bonus during the last two years.
The SEC filing also revealed that CFO Sean Goodman received $6.8 million in overall compensation in 2023, against a $6.27 million pay package in 2022.
His latest compensation included a $450,000 cash bonus.
AMC continues to take part in an industrywide box office recovery and contend with the fallout from the dual Hollywood strikes and changing consumer habits in the age of streaming.
The cinema chain giant is also looking to raise fresh cash, where possible, to run the business and offset the company’s high debt load.
