Get All Access for $5/mo

AMC CEO Defends Selling Shares On Tuesday, the CEO sold 625,000 shares.

By Entrepreneur Staff Edited by Emily Rella

Bloomberg | Getty Images

AMC CEO Adam Aron has defended himself after selling about $25 million of his shares and sending the share price tumbling down.

He tweeted Wednesday, "62.5% of my annual pay is AMC stock, not cash. I hadn't sold even 1 AMC share in 6 years. I publicly said months ago and again Monday, now at age 67, it's prudent to diversify assets for estate planning. I STILL HAVE WELL OVER 2 MILLION OWNED/GRANTED AMC SHARES. I believe in AMC."

On Tuesday, the CEO sold 625,000 shares, according to a Securities and Exchange Commission filing made public Wednesday.

Their average price was $40.53 per share. Another Tuesday filing to the SEC revealed that Aron plans to sell up to 1.25 million shares of AMC stock soon.

AMC's stock price went down over 4% in after-hours trading after the filings were made known Wednesday.

In an August earnings call, Aron did mention his plans to sell. The most recent earnings call took place Monday and he reiterated his plans, saying that he "should diversify [his] assets a bit, especially with Congress having been discussing imposing potentially soaring capital gains tax rates and significant changes to what can be passed on to one's heirs."

He mentioned on the call that he shared his plans in August not because he was required to, but because he wanted to be transparent.

Entrepreneur Staff

Entrepreneur Staff


For more than 30 years, Entrepreneur has set the course for success for millions of entrepreneurs and small business owners. We'll teach you the secrets of the winners and give you exactly what you need to lay the groundwork for success.

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Editor's Pick

Business News

'We Pulled Off An SEO Heist': Entrepreneur Stole 3.6 Million Pageviews From Competitors — And Your Business Could Be Next.

This has huge implications for businesses that rely on Google's organic traffic for revenue.

Business News

Wells Fargo Reportedly Fired More Than a Dozen Employees for Faking Keyboard Activity

The bank told Bloomberg that it "does not tolerate unethical behavior."

Business Ideas

63 Small Business Ideas to Start in 2024

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2024.

Starting a Business

Spend Less Time Worrying About Your Company's Runway — And More Time Rethinking Your Strategy. Here's How.

Perceived short runways leave founders in angst. It does not have to be this way; the best way to extend the runway is the right strategy.


The Key to Real Innovation Is Cross-Pollination — Here Are 10 Ways to Implement It in Your Business

Transform your business with this unique approach to sparking innovation.