Imax CEO Richard Gelfond’s compensation for the latest fiscal year came to $6.9 million, just down from $7.1 million in fiscal 2019, according to a regulatory filing unveiled on Friday.
Gelfond received a base salary of $1.2 million last year, the same as his $1.2 million salary in 2019 and 2018. He received no bonus for 2000, after nabbing a bonus of $1.1 million in fiscal 2019.
And while receiving no option awards last year — against $3.3 million in option awards received in 2019 — Gelfond received $5.5 million in stock awards in 2020 earned as part of a three-year performance period.
The giant-screen exhibitor also revealed in an SEC filing that Megan Colligan, president of Imax Entertainment, made $2.58 million in total compensation for 2020, against $4.2 million in total compensation for fiscal 2019.
And Patrick McClymont, Imax’s CFO, saw his overall pay fall to $2.23 million in fiscal 2020. That compares to a year-earlier pay package of $2.72 million.
As rival exhibitors burn cash to survive theater closures amid the coronavirus outbreak, Imax has projected balance sheet strength and liquidity to ride out the severe industry disruption as it doesn’t have real estate costs to carry on its balance sheet.