Sean Gamble, CEO of Cinemark Holdings, the major exhibition chain, will earn $5.95 million in total compensation by 2022, the company said in an SEC filing Thursday.
His compensation package came as Cinemark, the third-largest theater circuit in the US behind AMC Theaters and Regal Entertainment Group, continued to recover at the box office last year after nationwide theater closures during the early stages of the COVID-19 crisis.
Gamble, who became president and CEO of the movie theater chain in January 2022, continued to see the big movers from his all-stock pay and no-equity stimulus plan.
Cinemark’s former COO was paid a base salary of $825,000 in 2022, up from a base salary of $687,857 in 2021 as the company ramped up efforts to generate more admissions and concessions as patrons returned to theaters to see Hollywood tentpoles.
Gamble did not receive a bonus last year, but did receive $3.6 million in share awards, compared to $1.5 million in 2021. And he received $1.42 million from a non-equity incentive plan, having earned $1.42 million a year earlier. 963,000 in a non-equity incentive plan.
The SEC filing also revealed that Melissa Thomas, who became CFO of Cinemark in October 2021, received total pay of $2.4 million in 2021. She received a $500,000 bonus to which she was entitled in February 2022.
