Form 4: Lions Gate Entertainment Corp: Director Mark Rachesky Reports Beneficial Ownership Changes

Director Mark Rachesky reports changes in beneficial ownership of Lions Gate Entertainment Corp Class A Voting Shares and Class B Non-Voting Shares due to director fees and holdings through various investment partnerships.

Summary

• On April 1, 2025, Mark H. Rachesky, a director of Lions Gate Entertainment Corp, reported changes in his beneficial ownership of the company's Class A Voting Shares and Class B Non-Voting Shares.
• The transactions include the acquisition of 4,983 Class A Voting Shares at $8.63 and 5,570 Class B Non-Voting Shares at $7.72, representing director fees.
• Rachesky also indirectly owns a significant number of shares through various investment partnerships, including MHR Capital Partners Master Account LP, MHR Capital Partners (100) LP, MHR Institutional Partners II LP, MHR Institutional Partners IIA LP, MHR Institutional Partners III LP, and MHR Institutional Partners IV LP.
• The reported holdings do not include shares subject to a Voting and Standstill Agreement with Liberty Global, Discovery Lightning Investments, and others, in which Rachesky has no pecuniary interest.
• Rachesky also holds restricted share units that vest in Class A Voting Shares and Class B Non-Voting Shares, with remaining installments vesting on September 13, 2025, and annual director compensation awards vesting on November 29, 2025.

Sentiment

Score: 6

Explanation: The document is a standard regulatory filing, so the sentiment is neutral. It provides factual information about changes in beneficial ownership.

Positives

• The acquisition of shares as director fees demonstrates continued alignment of interests between the director and the company's shareholders.

Future Outlook

The document does not contain specific forward-looking statements, but it does indicate continued vesting of restricted share units in the future.

Industry Context

This filing is a routine disclosure related to insider trading and beneficial ownership, which is common for publicly traded companies like Lions Gate Entertainment in the entertainment industry.

Comparison to Industry Standards

• Form 4 filings are standard practice for directors and officers of publicly traded companies, ensuring transparency in their transactions.
• The level of detail provided regarding indirect ownership through various investment partnerships is typical for individuals with significant holdings.
• Comparable companies like Paramount, Disney, and Netflix also have similar insider transaction reporting requirements.

Stakeholder Impact

• The filing provides transparency to shareholders regarding the ownership structure and transactions of a key company director.

Key Dates

Keywords

beneficial ownership, Lions Gate Entertainment, Mark Rachesky, Class A Voting Shares, Class B Non-Voting Shares, director fees, investment partnerships, MHR Capital Partners, restricted share units