Form 4: Gordon Crawford Reports Changes in Beneficial Ownership of Starz Entertainment Corp. Following Lionsgate Transaction
SEC Form 4 Filing
Gordon Crawford, a director of Starz Entertainment Corp., reports changes in beneficial ownership following the completion of transactions related to the arrangement agreement with Lionsgate Studios Corp.
Summary
- On May 6, 2025, Gordon Crawford, a director of Starz Entertainment Corp., reported changes in beneficial ownership following transactions related to the arrangement agreement with Lionsgate Studios Corp.
- The transactions involved the exchange of Class A and Class B shares of Starz Entertainment Corp. for new common shares of New Lionsgate and Starz Entertainment Corp.
- The exchange was conducted pursuant to the Initial Share Exchange, Second Share Exchange, and Reverse Stock Split as defined in the Form S-4.
- Equity awards held by employees, service providers, and directors of Starz Entertainment Corp. were converted into awards of New Lionsgate and Starz under new equity plans, preserving the aggregate fair market value of the awards.
- As a result of these transactions, Crawford's direct ownership of Class A and Class B shares of Starz Entertainment Corp. decreased to 0.
Sentiment
Score: 6
Explanation: The document is a standard regulatory filing detailing a completed transaction. The sentiment is neutral as it primarily reports factual information without expressing positive or negative views.
Future Outlook
The document does not contain specific forward-looking statements, but it outlines the completion of a significant transaction that will likely shape the future of Starz Entertainment Corp. and New Lionsgate.
Industry Context
This announcement reflects ongoing consolidation and restructuring within the media and entertainment industry, as companies seek to streamline operations and enhance shareholder value through strategic transactions.
Stakeholder Impact
- Shareholders of Starz Entertainment Corp. are impacted by the exchange of shares for New Lionsgate and Starz shares.
- Employees and service providers of Starz Entertainment Corp. are impacted by the conversion of equity awards into awards of New Lionsgate and Starz.
- Directors of Starz Entertainment Corp. who will serve as directors of both New Lionsgate and Starz are impacted by the partial conversion of equity awards.
Key Dates
| Date | Description |
|---|---|
| 2025-01-29 | Date of the Arrangement Agreement between the Issuer, Lionsgate Studios Corp., LG Sirius Holdings ULC and Lionsgate Studios Holding Corp. |
| 2025-03-12 | Date of the amending agreement to the Arrangement Agreement. |
| 2025-05-06 | Date of the transaction involving the exchange of shares and conversion of equity awards. |
| 2025-05-08 | Date of signature of the Form 4 filing. |
Keywords
Beneficial Ownership, Starz Entertainment Corp, Lionsgate Studios Corp, Gordon Crawford, Form 4, Share Exchange, Equity Awards, Director
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.