Rebecca Rubin Film and Media Reporter Imax Entertainment CEO Richard Gelfond has extended his contract through 2025. Gelfond, who has served as CEO since 2009 and has been with the company since 1994, will keep his current compensation, equity and severance terms, according to Monday’s filing with the Securities and Exchange Commission.
Since 2019, Gelfond has received a base salary of $1.2 million and in 2021 earned a total compensation of $9.1 million, including stock awards.
During the pandemic, when cinemas were shuttered for an extended period of time, he didn’t take a bonus. Though the movie theater industry is still rebounding from COVID-19, the company that’s known for its immersive, advanced technology emerged in a uniquely enviable position.
That’s because Imax and other premium moviegoing experiences have been in high demand among blockbuster-hungry moviegoers. Also, the company has a cleaner balance sheet and isn’t as heavily leveraged as others in the exhibition space.
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