AMC Entertainment chief govt Adam Aron noticed compensation final yr totaling $23.7 million, up 25% from $18.9 million in 2021, in response to an SEC submitting Friday. That included a base wage of $1.5 million, a $6 million money bonus, and inventory awards valued at $16.2 million.

“Despite challenging industry and economic conditions, as has been the case since the onset of the COVID-19 pandemic, the Company remained vigilant, flexible, and focused on maximizing results. The extraordinary efforts and creativity of our management team has allowed AMC to weather the storm while some of our competitors were forced to permanently close or seek bankruptcy protection,” the enormous movie show chain stated in an amended 10K, or annual report, submitting.

AMC rival Cineworld, father or mother of Regal, filed for chapter final fall in Texas.

Despite a recovering field workplace, AMC has important debt and continues to be susceptible to swings. It’s ready for a authorized resolution in Delaware Chancery Court this summer time — associated to the settlement of a lawsuit — that would supply a cushion by permitting the corporate to boost important money if wanted. AMC had proposed a collection of strikes, that had been authorised by a majority shareholders, aimed toward getting its funds and inventory worth on extra strong footing. A couple of shareholders had sued to dam the measures, however then settled with the corporate. A choose must approve the settlement.

“I will be more confident after this, after we have the ability to implement the shareholder vote,” Aron stated in an interview with Deadline final week at massive exhibitor convention CinemaCon.

“When you have the flexibility to raise capital if you need to, it’s really important. Whether we will need to or not depends on what … the box office is this year.”

“In the view of the Compensation Committee, management successfully undertook major initiatives to reduce and control costs, raise additional capital, restructure a substantial portion of the Company’s debt, renegotiate arrangements with studios and landlords, operate theatres safely, promote attendance, and lay the groundwork to seek opportunities to diversify the business,” the submitting stated.

Back in December, Aron stated he would freeze his compensation for 2023 given the decline in AMC stock. “Biggest inflation in 40 years, so in 2023 companies will grant large % salary raises. But I do not want “more” when our shareholders are hurting. So, I beneficial to the AMC Board to crimson circle and freeze each my goal money and goal inventory pay for 2023. NO INCREASE,” he tweeted. Pay for 2022 hadn’t but been disclosed, so the freeze degree wasn’t clear.

Aron stated he additionally stated then he had requested 15 to twenty of AMC’s senior executives to forego a rise to their money salaries for 2023. “When CEO’s “ask,” execs to their credit score normally agree. I sincerely thank them for that. AMC has a really devoted administration group.”