(Reuters) – AMC Entertainment Holdings has approved millions of bonuses to its senior executives and eligible employees as a means of maintaining shareholder value during the COVID-19 pandemic, the theater operator said.
In a regulatory filing on Friday, the company said CEO Adam Aron will receive $ 3.75 million in bonuses, while other top executives are entitled to bonuses of $ 173,000 to $ 507,000.
The move comes at a time when movie chains like AMC have taken a hit due to coronavirus-driven restrictions that have delayed the release of films. The company eliminated bankruptcy through a debt restructuring agreement last year.
The shares of the Leawood, Kansas-based company were also one of the “stones” whose wild journey captivated investors a few weeks ago and during which the price of its shares rose by more than 860% compared to the beginning of the year, the biggest.
Shares of AMC closed 3.4% on Friday at $ 8.01.
Reporting by Eva Mathews in Bengaluru; Mount of Maju Samuel