Struggling movie theater chain AMC is paying its CEO Adam Aron a $3.75 million bonus, it wrote in a filing Friday.The bonuses were approved to recognize"the extraordinary efforts of employees" during the pandemic.AMC 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.on Friday, the company said CEO Adam Aron would receive $3.
The company approved $8.3 million in bonuses in total, including some to corporate associates and theater management. The bonuses were approved to recognize"the extraordinary efforts of employees to maintain the company's business and preserve stockholder value during the COVID-19 pandemic, encourage continued engagement and retention, and incentivize our management and employees during the continuing and unprecedented difficult business conditions," AMC said in the filing.
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.
Money well spent. Thank the lord I am not a shareholder
Amazing work from all involved. Give each other a big pat on the back because this is why everyone hates corporations. The staff live on handouts, managers live on bonuses and huge salaries. Try just once paying it forward, split those bonuses between all your staff.
This is the same shit that every company does when they're about to sell they pay the ceo millions and layoff the bluecollar workers.
Thanks Reddit
He really deserve it.
good job....while I haven't been in a movie theater in two years!
Turn up the surround sound on this show.
Were the $AMC cash bonuses in lieu of stock offerings? ”[E]xtraordinary efforts...to preserve shareholder value.” Given applicable ERISA statutes, notice execs are accepting cash is likely in the SH’s best interest as it reduces the risk of share influx/conversion.
They gotta take care of one of their own while they still have cash to pay with... haha
Capitalism, amirite?
as a shareholder I'm appalled the CEO, and not the actual Frontline employees, are getting such a bonus
hey AMCTheatres there's something really sick and wrong about this. I didn't go to the movies, I kept myself and others safe and I wore a mask, where's my bonus?
As a shareholder of AMC, I am appalled by this.
Lol. So. Means they're doing well and on the way to the moooooon!
WSBChairman wsbmod the CEO is claiming credit and benefits for a situation you guys created
As a stock holder I am appalled
What about the real heroes who did far more to keep AMC Theatres share price up, Redditors and the Daily Mail who misidentifying them as a target for acquisition by Amazon when it was AMC Networks generating huge media coverage last May
Haha this sucks
👍
thanks for this news