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Wanda Group Gave AMC Entertainment Execs $10M For Carmike & Odeon Deals

Deadline logo Deadline 3/17/2017 David Lieberman
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Wanda Group showed its appreciation for AMC Entertainment’s acquisitions of Carmike Cinemas and UK’s Odeon & UCI Cinemas by contributing $10 million as a “management transaction bonus” for top execs and directors — with $4.5 million going to CEO Adam Aron — according to the exhibition chain’s just-released proxy.

The deals, each costing about $1.1 billion, made AMC the world’s largest exhibition chain.

The Chinese company, which controls 81% of AMC’s voting shares, made the contribution “without any increase in Wanda’s economic interest or voting rights in the Company,” the document says. The purpose was to reward execs for “extraordinary services rendered in connection with merger and acquisition activity in 2016.”

With the extra contribution, Aron ended his first year with the company with $10.9 million. Along with the bonus, his package included $991.200 in salary, $4.3 million in stock awards, $1.1 million in non-equity incentives and $15,352 in other compensation.

In addition to the executive payment, Wanda owes AMC $10.6 million to reimburse the chain for “general administrative and other expense incurred on behalf of Wanda.”

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