Imax CEO Richard Gelfond's Pay Jumps to $14.5 Million in 2015
His overall pay rose from $10.6 million in fiscal 2014 after the giant-screen exhibitor launched its Imax China unit on the Hong Kong Stock Exchange.
Imax CEO Richard Gelfond's compensation for the latest fiscal year came to $14.5 million, up sharply from $10.58 million in fiscal 2014, according to a regulatory filing Thursday.
The giant-screen exhibitor, whose last fiscal year ended on Dec. 31, 2015, also revealed in an SEC filing that Greg Foster, senior vp Imax Corp. and CEO of Imax Entertainment, made $4.45 million in total compensation for fiscal 2015, up from the $3.48 million he earned in the previous year.
And Joseph Sparacio, Imax's CFO, saw his overall pay rise to $1.52 million, up from $1.27 million in fiscal 2014. Gelfond's jump in overall pay, the company's compensation committee reported in the regulatory filing, was due to a "highly successful Imax China IPO" and the company head's "leadership of Imax’s China business for over a decade."
Imax China Holding, a subsidiary of Imax Corp. and a Cayman Islands company, began trading on the Hong Kong Stock Exchange in November.
Also Thursday, strong box-office grosses from Hollywood tentpoles like Deadpool and Batman v. Superman: Dawn of Justice helped Imax post a sharp increase in first-quarter revenue and earnings for the period ended March 31.