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AMC's "meme" stock soared into orbit. So did CEO Adam Aron's wealth.

AMC's "meme" stock soared into orbit. So did CEO Adam Aron's wealth.

CBSN
Monday, June 07, 2021 07:24:47 PM UTC

AMC Entertainment's wild stock ride could end up being wildly lucrative for CEO Adam Aron. 

As of June 2, when the theater chain's shares closed at $62.55, the value of his stock-based compensation had soared from roughly $8 million at the beginning of the year to nearly $260 million, regulatory filings and calculations by corporate leadership data firm Equilar show. That amount consists of $47 million in common shares and $212 million in other awards, including restricted stock or options to buy shares that "vest" under specific conditions or on certain dates.  AMC shares, which traded at more than $58 Monday, have surged more than 2,500% this year. The company lost $4.6 billion in 2020 and is on pace to lose more than $1 billion this year, according to analysts.
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