Top news
* AMC Entertainment Holdings Inc. CEO and President Adam Aron saw his 2020 pay package more than double year over year, thanks largely to $14.8 million worth of stock awards and a bonus of $5 million.
The CEO took home $20.9 million in 2020, up from $9.7 million in the prior year. Sean Goodman, who succeeded Craig Ramsey as CFO of the company in early 2020, earned about $4.2 million in compensation, including $2.9 million in stock awards and a $761,250 bonus.
Executive Vice President of U.S. Operations John McDonald's total compensation rose to $3.4 million in 2020 from $2.3 million in 2019. The executive received a bonus of $389,100. Chief Content Officer Elizabeth Frank's total compensation increased to $3.1 million from $1.9 million in 2019. Chief Marketing Officer Stephen Colanero received $2.8 million in 2020 compared to $1.7 million the year before. Frank and Colanero received $361,300 and $347,750 in bonuses, respectively.
The company said in an SEC filing that the board approved bonuses "to recognize the extraordinary actions taken by the management team during the COVID-19 pandemic to secure the Company's survival and preserve stockholder value and to retain management and key employees to enable the Company to emerge from the impact of the COVID-19 pandemic."
In other compensation news:
* Nielsen Holdings PLC's board increased cash bonus payouts under the annual incentive plan with regard to the fiscal year ending Dec. 31, 2020. CEO David Kenny will receive a payout of $1.7 million. CFO Linda Zukauckas will be eligible to receive $796,500, and Chief Legal and Corporate Affairs Officer George Callard will receive $553,125. Zukauckas and Callard will also receive special cash bonuses worth $450,000, and $312,500, respectively, in recognition of efforts pertaining to the separation and sale of the Connect business, COVID-19 management during fiscal 2020 and certain transformative transactions.
* Sirius XM Holdings Inc.'s CEO Jennifer Witz on Feb. 16 received an award of performance-based restricted stock units having a $5 million target value as of the date of grant which will cliff vest on Dec. 31, 2023, after a two-year performance period if a free cash flow target established by the compensation committee is achieved. Witz also received an award of performance-based restricted stock units worth $5 million as of the date of grant which will cliff vest at the end of a performance period beginning Jan. 1, 2021, and ending Dec. 31, 2023.
The Liberty Media Corp. unit also granted CFO and Executive Vice President Sean Sullivan an award of 381,663 performance-based restricted stock units, which will cliff on Oct. 26, 2023, after a two-year performance period if a free cash flow target established by the compensation committee is achieved. In addition, Sullivan received an award of 381,663 performance-based restricted stock units, which will cliff at the end of a performance period beginning on Jan. 1, 2021, and ending Dec. 31, 2023. Sullivan will vest in that award on Oct. 26, 2023, subject to the compensation committee's certification of the company's performance during the performance period.
* ANGI Homeservices Inc.'s new CEO Oisin Hanrahan will receive an annual base salary of $550,000 and discretionary annual cash bonuses. Hanrahan also received restricted stock units with a grant date value of $5 million, with 50% vesting on each of the 24-month and 30-month anniversary of the grant date.
* Cogent Communications Holdings Inc.'s board offered Chairman, CEO and President David Schaeffer an award of up to 189,000 shares of restricted stock. A portion of the grant, 84,000 shares, will vest in monthly increments of 7,000 shares starting Jan. 1, 2024, continuing through Dec. 1, 2024. The remaining portion of the grant, with a target of 84,000 shares and a maximum of 105,000 performance shares will vest on April 1, 2025, depending upon the achievement of certain performance metrics. In addition, each other executive officer received a grant of restricted stock 20% of which vests in quarterly increments in March, June, September and December 2024.
* Gannett Co. Inc.'s board approved the compensation of CFO and Chief Accounting Officer Douglas Horne, providing that his annual base salary rate will remain the same for the fiscal year ending Dec. 31. Horne also received a $600,000 cash bonus for the 2020 fiscal year and a time-vesting restricted stock award valued at $600,000 based on his performance in the fiscal year.
