This is the payout of bonuses earned in 2019. Depending on their pay structure, a lot of lower level people are probably eligible for payout of their 2019 bonuses, too.
They certainly were tone-deaf paying these out a week after cutting staff pay. They could have deferred the payout of 2019 bonuses by six months.
Sure, the bonuses were for 2019 performance, however, money is money. If they org doesn’t have enough to pay workers then the execs have done a lousy job and shouldn’t be paid bonuses. Obviously, their 2019 performance has led to shortfalls in 2020. They shouldn’t be rewarded for failure of a long range plan. In other words, “You’ll get your 2019 bonus but not if at the time of payment the finances are in bad shape.”