AMC Entertainment CEO Adam Aron has sold another tranche of stock, the latest in a flurry of selling he had warned investors was coming but said today is now over.

According to an SEC filing, the exec unloaded 312,500 shares yesterday at $22.846 — so about $7.14 million. Last month, he divested $9.65 million worth of shares in one sale after unloading a first tranche of stock for about $25 million.

Aron had advised stockholders publicly on AMC’s last earnings call that he’d be selling shares for estate planning purposes and said it wasn’t a big deal but the extent of the selling caught some investors by surprise in December. The company’s Reddit-fueled meme-stock attraction is all about loyalty — investors holding onto shares with “diamond hands,” meaning through thick or thin come what may. The concept is to thwart short sellers,...