AMC Entertainment CEO Adam Aron's 2018 Pay Rises to $9.5M
Aron made $7.4 million in 2017 after completing a series of acquisitions at the mega-movie chain.
AMC Entertainment CEO Adam Aron received compensation of $9.5 million in 2018, up from $7.4 million in 2017, according to the cinema giant's proxy statement filed with the Securities and Exchange Commission on Tuesday.
Aron took home $5.5 million in stock awards last year, compared with $5.6 million in 2017, on top of his base salary for 2018 that amounted to $1.1 million, unchanged from 2017. The main driver of his higher pay was $2.9 million in non-equity incentive plan compensation last year, up from $726,000 in 2017.
Aron had made $10.9 million in total compensation for 2016, when he joined the country's largest theater circuit, owned by China's Dalian Wanda Group since 2012, and after it completed deals to acquire Carmike Cinemas, the U.K.-based Odeon & UCI Cinemas chain and the European theater giant Nordic Cinema Group.
AMC Theaters has been installing luxury recliner seating and new dining options as it renovates its multiplexes to deal with competition from Netflix and other new streaming options for consumers. The chain is the world's largest exhibitor.
AMC's proxy statement also showed Craig Ramsey, CFO of AMC Entertainment, made $2.5 million last year, up from $2.34 million in 2017.
And John D. McDonald, executive vp U.S. operations, took home $1.83 million in overall compensation for 2018, just down from $2.03 million in overall pay for 2017.
AMC Theaters last year launched Stubs A-List, a monthly movie subscription program with over 700,000 members after adding another 100,000 patrons in January and February of 2019.