Sat, 10 Jun 2023

LEAWOOD, Kansas: Shareholders of AMC Entertainment have rejected proposed executive compensations, including $19 million for CEO Adam Aron.

The rejection of the pay plans came at the company's annual shareholder meeting this week.

However, the shareholders' rejection is only advisory and the company board could move forward with the large salaries for top executives.

It was noted that Aron was paid $18.9 million in 2021, down by 10 percent from one year earlier.

Aron's 2021 pay included some $11.4 million in stock and a 32 percent increase in salary to $1.45 million.

In a statement in April, AMC said that the CEO and the company's finance chief were given larger base salary hikes "in recognition of their extraordinary efforts to ensure the company's survival" during the COVID-19 pandemic.

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