(Reuters) – AMC Entertainment Holdings has approved millions of bonuses to its top executives and eligible employees as a means to preserve shareholder value during the COVID-19 pandemic, the theater operator said.
On Friday, in a regulatory filing, the company said CEO Adam Aron would receive $ 3.75 million in bonuses, while other senior executives are entitled to bonuses of $ 173,000 to $ 507,000.
The move comes at a time when movie chains like AMC have suffered a blow due to coronavirus-driven restrictions that caused delays in film premieres. The company avoided bankruptcy through a debt restructuring agreement last year.
The shares of the Leawood, Kansas-based company were also one of the “fish,” whose wild behavior captivated investors several weeks ago and during which its share price rose more than 860%. compared to the beginning of the year, the maximum.
Shares of AMC closed up 3.4% at $ 8.01 on Friday.
Report by Eva Mathews in Bengaluru; Edited by Maju Samuel