Cinemark CEO Sean Gamble’s pay climbed to $9.82 million in 2024 , up 11.6% from $8.8 million in 2023.
The 2024 compensation package included a base salary of $936,000, stock awards of $5,849,984, non-equity incentive plan compensation of $2,995,200 and “other” compensation of $38,846, which includes $21,950 in annual 401(k) and HSA matching contributions, $8,655 in life, group and disability insurance premiums paid by the company and $8,241 in dividends paid on restricted stock and vested performance stock units.
The annual total compensation of Cinemark’s median-compensated employee was $10,152, making Gamble’s pay ratio 967 to 1.
Meanwhile, the movie theater chain’s CFO Melissa Thomas took in $2.94 million in total compensation for 2024, up slightly from $2.69 million in 2023. That package included a salary of $616,995, $1,177,982 in stock awards, $1.12 million in option awards and $29,598 in “other” compensation, which includes $21,950 in annual 401(k) and HSA matching contributions and $7,648 in life, group and disability insurance premiums paid by the company.
In 2024, Cinemark entertained over 201 million moviegoers globally, generating over $3 billion, including all-time high food and beverage sales, and delivered $590 million dollars of Adjusted EBITDA and $315 million in free cash flow. As of Dec. 31, 2024, Cinemark operated 497 theaters and 5,653 screens in the
U.S. and Latin America.
In his proxy letter to shareholders, Gamble said the results were “the byproduct of diligent in-year execution” as well as the company’s ongoing strategic initiatives to elevate the experience for guests, grow new sources of revenue, streamline processes and optimize its theater footprint.
“Confronted with significant headwinds imposed by the prior year’s strikes in Hollywood, North American industry box office reached approximately $8.8 billion, which meaningfully surpassed expectations and climbed to within 3% of 2023’s results,” Gamble said. “Throughout the year, audiences showcased their sustained enthusiasm for being immersed in captivating stories and events on a grand, larger-than-life scale with cutting-edge sight and sound technology. As a growing volume of compelling films were released to the big screen, moviegoing momentum surged, delivering multiple record-breaking results and a series of new franchise installments that outperformed their predecessors.”
The pay increases for Cinemark’s top executives come as the company’s stock is up 34.5% in the past year, but down 19.9% year to date and 9.4% in the past six months. It ended Wednesday’s trading session at $24.79 per share.
