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AMC's largest investor gave up much of its power after the cinema company reported a $ 4 billion loss last year amid the COVID-19 pandemic The private Chinese conglomerate Dalian Wanda Group, which invests in shopping...
AMC Entertainment Holdings Inc (NYSE: AMC) CEO and President Adam Aron received big rewards, according to an SEC report from the world's largest cinema chain on Friday. What Happened: The company said the rewards recognized the "extraordinary efforts of the employees" During the COVID-19 pandemic, Aron will receive $ 375 million, in part for his work, “to foster continued engagement and loyalty and to incentivize our management and employees during the ongoing difficult unprecedented business environment. Executives other than Aron stand ready , Bonuses in the range of 173000 to 507Get $ 000 Why It Matters: It isn't a secret movie theater chain that has been among the hardest hit companies in the pandemic in the past 12 months Theaters have been completely closed or had a significantly reduced capacity in the last 12 months. Cinemas are now facing multiple setbacks: Lockdown measures have forced cinema-goers to stay at home and try alternatives while film studios experiment by streaming films directly to them. Publish Platforms AMC has fended off bankruptcy for the time being, but it's safe to say that many shareholders will wonder if now is the time to give rewards to the leadership in an industry that is still massively troubled. New Scenes Ahead: At the end of the Tunnels, however, it could get light for AMC and its colleagues on Monday, AMC's shares traded higher after the company announced it would open its 13 theaters in New York City on Nov. Reopening March The rally came after Governor Andrew Cuomo announced that theaters would be allowed to reopen across New York State reported case of COVID-19 transmission among moviegoers in our theaters, "said CEO and President Adam Aron in a press release See Also: How to Buy AMC Stock Photo by camknows on Flickr For more information from Benzinga, click here for Benzinga option tradesCathie Woods Ark Invest Shares in Palantir, Twitter and sold Apple and Facebook were added on Friday Here's why Twitter, Airbnb, and DraftKings are moving © 2021 Benzingacom Benzinga does not offer investment advice. All rights reserved