Chief Executive Adam Aron sold another $7.1 million shares of the movie theater giant this week, and said he’s done selling the stock.
He has sold more than $40 million of stock since November.
“Back in August, I said that at age 67 I’d sell some AMC shares toward year-end, all trading decisions out of my hands, under guidelines of a Chase 10-b-5-1 plan spread over 3 months,” Aron said on Twitter. “Those sales are now all finished.
I STILL OWN OR PLAN TO VEST IN 2,302,760 AMC SHARES. I am in!”
Aron sold 312,500 shares of AMC Entertainment (ticker: AMC) on Tuesday, according to a regulatory filing.
The stock fell 0.3% in premarket trading Thursday to $22.65. Coming into Thursday, AMC has declined 16.5% so far in 2022. The shares soared almost 1,300% last year, buoyed by meme traders who rallied behind the stock.
Write to Joe Woelfel at firstname.lastname@example.org