Daniel Ellis
AMC ENTERTAINMENT HOLDINGSAbout Daniel Ellis
Daniel E. Ellis, 56, serves as Executive Vice President, Chief Operations and Development Officer at AMC; he has held this role since March 2022 after joining AMC in December 2016 via Carmike, and he now also oversees Marketing as of November 2025 . He holds a BBA (Georgia Southern), an MBA (Mercer), and a JD (University of Mississippi) . AMC’s pay programs tie a significant portion of Ellis’s compensation to performance, primarily Adjusted EBITDA and Free Cash Flow; in 2024 AMC achieved Adjusted EBITDA of $343.9 million, leading to a 146% payout for company AIP and 146%/200% vesting on EBITDA/FCF PSUs after committee-approved goal modifications to reflect industry strikes and release delays . Company pay-versus-performance disclosure shows 2024 net loss of $352.6 million and a value of $10.25 for an initial $100 TSR investment in AMC stock, highlighting the challenging equity backdrop during Ellis’s tenure .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| AMC Entertainment | EVP, Chief Operations & Development Officer | Mar 2022–present | Leads U.S. theatre operations, F&B, development, facilities, sight & sound; Marketing added under his purview in 2025 . |
| AMC Entertainment | SVP, Development & International | Mar 2020–Mar 2022 | Led development with international scope . |
| AMC Entertainment | SVP, Domestic Development | Dec 2016–Mar 2020 | Drove domestic development initiatives post-Carmike acquisition . |
| Carmike Cinemas | SVP, General Counsel & Secretary | Aug 2011–Dec 2016 | Senior legal and corporate secretary leadership during Carmike era . |
| Lodgian, Inc. | President, CEO & Director | 2009–2010 | Led company; prior GC/Secretary 2002–2009 . |
| Lodgian, Inc. | SVP, General Counsel & Secretary | 2002–2009 | Legal and governance leadership . |
| Private practice / State of Georgia | Attorney; Assistant District Attorney | Pre-1999 | Litigation and prosecutorial experience . |
External Roles
No external public company directorships for Mr. Ellis are disclosed in AMC’s executive officer bios (2024 10-K) or the 2025 Proxy .
Fixed Compensation
| Metric | 2022 | 2023 | 2024 |
|---|---|---|---|
| Salary paid ($) | 585,385 | 595,000 | 619,231 |
| Annual base salary rate ($) | — | 595,000 | 625,000 |
| Target bonus (% of base) | — | — | 65% |
| AIP paid ($) | 696,150 | 703,885 | 563,875 |
Performance Compensation
- Annual Incentive Program (AIP) design and 2024 results
- Metric: Company Adjusted EBITDA (80% weight, indexed to industry box office/attendance); Individual performance (20% weight) .
- 2024 outcomes: AMC Adjusted EBITDA $343.9m; industry-adjusted target $315.0m; payout 146% on company component; Ellis individual component approved at 110% .
| Component | Weight | Target | Actual 2024 | Payout |
|---|---|---|---|---|
| Company (Adj. EBITDA) | 80% | Indexed to industry (see target grid) | $343.9m vs $315.0m industry-adjusted target | 146% |
| Individual | 20% | Qualitative goals | Committee assessment | 110% |
- 2024 Annual Equity Grants (grant date 6/5/2024)
- RSUs vest ratably over three years; first tranche on first business day of fiscal year after grant .
- PSUs split 60% Adjusted EBITDA and 40% FCF, with three one-year tranches (Tranche Years 2024–2026) set annually; 2024 tranche goals set on 2/22/2024 .
| Equity Award (Ellis) | Grant Date | Units | Grant Date Fair Value ($) | Vesting / Metrics |
|---|---|---|---|---|
| 2024 RSU | 6/5/2024 | 105,264 | 542,110 | 3-year ratable vesting; dividend equivalents accrue and pay on vest . |
| 2024 PSU Tranche I | 6/5/2024 | Target 17,544 + 35,088 + 70,176 split across awards in plan table; Elllis total 2024 tranche targets: 21,053 (EBITDA), 14,035 (FCF) | 180,703 (2024 PSU Tranche I) | Metrics: 60% Adj. EBITDA, 40% FCF; 1-year performance; dividend equivalents accrue and pay on vest . |
| 2023 PSU Tranche II (2024 tranche year) | 2/22/2024 | 2,349 / 4,697 / 9,394; Ellis total targets shown in plan table | 20,761 | 1-year 2024 performance; metrics as above . |
| 2022 PSU Tranche III (2024 tranche year) | 2/22/2024 | 850 / 1,700 / 3,400; Ellis total targets shown in plan table | 7,514 | 1-year 2024 performance; metrics as above . |
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PSU goal modifications and vesting
- 2024 tranche: Adjusted EBITDA goals modified on 2/19/2025 to $315m target (from $350.2m); resulted in 146% vesting on EBITDA-linked tranches; FCF tranches vested at 200% without modification .
- 2023 tranche: Adjusted due to 2023 WGA/SAG-AFTRA strike impacts; resulted in 200% vesting on EBITDA and FCF tranches and incremental fair value recognition (Ellis: 17,634 PSUs; $77,942) .
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Stock vested during 2024 (gross before tax withholding) | Type | Shares Vested | Value Realized ($) | |---|---:|---:| | RSU | 11,880 | 72,587 | | PSU | 23,768 | 105,055 |
Equity Ownership & Alignment
- Beneficial ownership: 96,441 AMC shares (<1% of outstanding) as of Oct 13, 2025 .
- Outstanding awards (12/31/2024):
- Unvested RSUs: 1,701 (2022 RSU); 9,394 (2023 RSU); 105,264 (2024 RSU) .
- Unearned PSUs (2024 tranche year, vested Feb 19, 2025 per committee certification): 2,040 (2022 PSU Adj. EBITDA); 1,360 (2022 PSU FCF); 5,636 (2023 PSU Adj. EBITDA); 3,758 (2023 PSU FCF); 42,106 (2024 PSU Adj. EBITDA Tranche I); 28,070 (2024 PSU FCF Tranche I) .
- Ownership guidelines: Executive Vice Presidents must hold stock equal to 4x base salary within five years; unvested RSUs/PSUs at target count toward compliance; as of 12/31/2024 all NEOs were within the grace period .
- Hedging/pledging: Officers are prohibited from hedging and pledging AMC securities .
- Options: AMC does not currently grant stock options; none exercised in 2024 .
Employment Terms
- Agreement: Employment agreement dated December 20, 2016; two-year term with automatic one-year renewals; base salary subject to annual review (can be increased, not decreased); target bonus determined by Board/Committee .
- Severance (without Cause / for Good Reason): Cash severance equal to one year of base salary (Ellis) .
- Change-of-Control (CIC): Automatic acceleration of unvested equity awards upon a CIC; PSU acceleration at the higher of target or actual attainment at the time of CIC (single-trigger vesting policy) .
- Clawback: NYSE-compliant clawback policy effective Oct 2, 2023; recovery of excess incentive-based compensation after a restatement .
- Benefits/Deferred comp: Participation in AMC 401(k); no non-qualified deferred compensation program in 2024 .
Investment Implications
- Pay-for-performance linkage is tight around cash generative metrics (Adjusted EBITDA 60%/FCF 40% in PSUs; AIP tied to EBITDA), which aligns incentives with deleveraging and cash discipline; 2024 Adjusted EBITDA attainment and AIP payout at 146% reinforce that focus amid industry headwinds .
- Governance risk: Consecutive modifications to PSU goals for 2023 and 2024 tranche years increased vesting outcomes (Ellis incremental 17,634 PSUs for 2023 tranches), a potential red flag for some investors; 2024 say‑on‑pay support was 39%, indicating shareholder concerns the committee is now attempting to address .
- Retention risk: Severance is modest (1x salary) and equity is multi‑year with performance tranches, supporting retention without outsized cash guarantees; however, single‑trigger CIC acceleration for equity can be shareholder‑unfriendly and could incentivize short‑term outcomes in a sale scenario .
- Alignment and selling pressure: Large RSU/PSU overhang and annual vesting can create periodic sell‑to‑cover flow; anti‑pledging and ownership guidelines (4x salary) are positives for alignment, but Ellis’s reported beneficial ownership (96,441 shares) is small versus guideline targets, though he remains within the grace period .