AMC Stock shareholders is against Adam Aron’s (CEO) $19 mln pay package

June 17 (Reuters) – Shareholders of AMC Entertainment Holdings Inc casted a ballot against its proposed leader remuneration including that of top manager Adam Aron at the organization’s yearly investor meeting, the theater chain said on Friday.

The vote at the gathering on Thursday was warning, and that implies the organization isn’t committed to make changes to the remuneration plan, it said in an administrative recording

In 2021, Aron gathered a sum of $18.9 million in compensation, somewhere near around 10% from a year sooner, as per a recording

Aron’s compensation last year remembered about $11.4 million for stock honors and his base compensation rose around 32% to $1.45 million.

AMC said in April that the CEO and the organization’s money boss were given bigger base compensation climbs “in acknowledgment of their exceptional endeavors to guarantee the Company’s endurance” during the COVID-19 pandemic.

Intermediary consultants Institutional Shareholder Services (ISS) and Glass Lewis suggested that investors vote against the remuneration plan, as per a report by Bloomberg News.

ISS and Glass Lewis didn’t promptly answer Reuters’ solicitations for input.

The organization’s investors additionally casted a ballot to choose all the board chosen people, including Aron.

Subsequent to becoming one of the greatest casualties of the pandemic, AMC is seeing a restoration in business, driven by a constant flow of new deliveries, for example, “Specialist Strange and the Multiversity of Madness” and “Top Gun: Maverick”. (Detailing by Akash Sriram in Bengaluru; Editing by Maju Samuel)

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