May. 20 at 1:20 AM
AMC Entertainment shares rose 7% in after-hours trading Tuesday after CEO Adam Aron purchased 250,000 Class A common shares of the company.
According to a filing with the SEC, Aron acquired the shares on May 19 at a weighted average price of
$1.3774 per share through an open-market or private transaction.
Following the purchase, Aron directly owns 2.44 million AMC shares. The filing also showed his potential total holdings could reach more than 12.3 million shares, including contingent stock awards tied to service and performance conditions.
The transaction was viewed as a strong vote of confidence from the company’s CEO and chairman as AMC continues navigating a challenging environment for movie theater operators.
$AMC