Andrzej Matyczynski
About Andrzej Matyczynski
Andrzej J. Matyczynski is Executive Vice President, Global Operations at Reading International (RDI). He was appointed EVP on March 10, 2016, after serving as Strategic Corporate Advisor (2015–2016) and previously as Chief Financial Officer and Treasurer (1999–2015) and Corporate Secretary (2011–2014). He is 73 and holds an MBA from the University of Southern California; prior to joining Reading he spent 20 years in senior roles at Beckman Coulter across global markets . As context for pay-for-performance, Reading’s reported Total Shareholder Return (TSR) index stood at $55 (2022), $47 (2023), and $48 (2024), while net income was negative in each year; in Q3 2025 the company reported positive EBITDA and improved net loss and EPS versus the prior year quarter .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Reading International, Inc. | Chief Financial Officer & Treasurer | 1999–2015 | Led finance through multi-year real estate and cinema portfolio development; executive stewardship during industry cycles |
| Reading International, Inc. | Strategic Corporate Advisor | 2015–2016 | Advised on corporate initiatives preceding appointment to EVP Global Operations |
| Reading International, Inc. | Corporate Secretary | 2011–2014 | Governance and corporate secretarial oversight |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Beckman Coulter Inc. | Senior roles (various, global) | ~20 years (pre-1999) | Global operating and leadership experience in a multinational environment |
Fixed Compensation
- Individual salary/bonus disclosure not provided for Mr. Matyczynski (he is not a Named Executive Officer in the proxy). The company’s 2024 approach for NEOs (context) held base salaries flat and paid no STI cash bonuses; instead, stock options were granted in lieu of cash bonuses with a $1.43 exercise price, one-year vest, and 5-year term, and no new LTI awards were granted for 2024 given liquidity and industry headwinds .
Performance Compensation
- Company framework (applies to executives generally): Objective company and individual performance goals are set annually; for 2024, the Compensation Committee determined certain corporate criteria were met, leading to vesting of portions of outstanding PRSUs issued prior to 2024. For 2024, STI cash bonuses were replaced by stock options tied to potential cash bonus outcomes; no new LTIs were issued for 2024 .
- Clawbacks and risk controls: Executive Officer Clawback Policy adopted Nov 29, 2023; all incentive compensation is subject to recovery as required under Nasdaq and Dodd-Frank rules; anti-put/call/short-sale policy; anti-hedging policy bars zero-cost collars, equity swaps, prepaid forwards, and exchange funds .
Equity Ownership & Alignment
- Individual beneficial ownership for Mr. Matyczynski is not separately disclosed in the Beneficial Ownership table (which lists Directors, NEOs, >5% holders, and all directors/executive officers as a group) .
- Stock ownership guidelines exist, but compliance has been postponed until December 31, 2026 due to industry and market conditions; executives are restricted from hedging transactions and certain derivative trading under the company’s policies .
- Pledging: No explicit pledging disclosure found in the proxy; the Supplemental Insider Trading Policy restricts certain trading and hedging, but the document does not specifically address pledging .
Employment Terms
- Employment agreements: As of December 31, 2024, NEOs had no employment agreements; no specific employment agreement for Mr. Matyczynski is disclosed .
- Change-in-control and vesting mechanics (plan-level): Employee awards (including executives) may accelerate upon death/disability; if awards are not assumed in a corporate transaction; or upon termination without cause/for good reason within 24 months post-change-in-control where equivalent awards are not substituted. Director RSUs accelerate upon a change in control .
- Severance multiples: No individual severance multiple is disclosed for Mr. Matyczynski; the proxy provides a change-in-control payout illustration only for NEOs (not including Mr. Matyczynski) .
Performance & Track Record (Company Context)
| Metric | FY 2022 | FY 2023 | FY 2024 |
|---|---|---|---|
| Total Shareholder Return (Index, $) | $55 | $47 | $48 |
| Net Income ($USD) | $(36,660,000) | $(31,185,000) | $(35,898,000) |
| Q3 2025 Snapshot | Q3 2025 |
|---|---|
| Total Revenues ($USD Millions) | $52.2 |
| EBITDA ($USD Millions) | $3.6 |
| Operating Loss ($USD Millions) | $(0.3) |
| Net Loss Attributable to Reading ($USD Millions) | $(4.2) |
| Basic Loss per Share ($) | $(0.18) |
Additional context:
- The company highlighted five consecutive quarters of positive EBITDA as of Q3 2025 and improved loss metrics year-over-year, alongside real estate asset monetizations and debt maturities extended across core facilities in 2025 .
Governance, Say-on-Pay, and Committee Practices (Context)
- Controlled company under Nasdaq rules; Board maintains a majority of independent directors and fully independent Audit and Compensation Committees; AON serves as independent compensation consultant; stock ownership policy compliance deferred to Dec 31, 2026; hedging and certain derivative transactions are prohibited for directors/executives .
- Say-on-Pay: 2024 advisory vote on executive compensation was approved by stockholders (no percentage disclosed) .
Investment Implications
- Alignment: Company-wide clawback policy, anti-hedging restrictions, and performance-based vesting features support alignment; however, deferral of stock ownership guideline compliance to end-2026 dilutes near-term enforced ownership targets .
- Retention and selling pressure: No individual data on Mr. Matyczynski’s equity holdings, vesting calendar, or Form 4 activity is disclosed in the proxy, limiting visibility into potential selling pressure. Company plan-level acceleration on change-in-control can increase payouts but avoids single-trigger benefits; no individual severance multiple is disclosed for him .
- Pay-for-performance: For 2024, compensation design shifted to conserve cash and emphasize equity options in lieu of cash bonuses, with PRSU vesting contingent on performance criteria—constructive for alignment, though sustained negative net income and modest TSR in recent years frame execution risk. Q3 2025 EBITDA positivity and loss improvement are encouraging but need durability to translate into long-term value creation .