Ballantyne Strong Execs Take Another Temporary Salary Pay Cut Amid COVID-19

9/16/20

By Cole Batchelor, NC Biz News

Top executives at Ballantyne Strong Inc., a holding company, agreed to take another pay during the COVID-19 pandemic.

On Sept. 15, the Ballantyne Strong’s CEO Mark Roberson, president of Strong Entertainment Ray Boegner and CFO Todd Major agreed to a 25 percent salary reduction, according to an 8-K filing with the Securities and Exchange Commission.

Following these reductions, Roberson’s, Boegner’s and Major’s base salary rates are $187,500, $206,250, and $150,000, respectively.

This is the fourth temporary reduction to their base salaries, the filing shows.

The base salary reductions are effective from Sept. 1, 2020, until and including Sept. 30 2020. These reductions are expected to be temporary until the company resumes normal operations.

According to its website, Ballantyne Strong Inc. is a holding company “owning subsidiaries and investments engaged in several diverse business activities, including cinema products and services, digital signage, advertising, insurance, reinsurance, and investment management services.”

Shares of Ballantyne Strong Inc. (BTN) were last trading down 1 percent near $1.67 on Wednesday.