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AMC Holders Rebuke CEO With Rejection of $19 Million Pay

  • Two proxy advisers recommended vote against compensation plan
  • Company creating $100 million fund for new business deals
Adam Aron, chief executive officer of AMC Entertainment Holdings Inc.

Adam Aron, chief executive officer of AMC Entertainment Holdings Inc.

Photographer: Kyle Grillot/Bloomberg
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AMC Entertainment Holdings Inc. shareholders rejected the company’s proposed executive pay plan at its annual meeting Thursday, a rare rebuke of a management team that collected tens of millions of dollars last year.

The vote was advisory, meaning the company isn’t obligated to change its executive remuneration plans. Shareholders supported all of the board nominees, including Chairman and Chief Executive Officer Adam Aron, it was announced at the meeting. However, the result serves as a signal to AMC that the owners of the company and its managers are somewhat at odds.