Form 4: Lions Gate Entertainment Vice Chair Michael Burns Reports Share Transactions
SEC Form 4 Filing
Michael Burns, Vice Chair of Lions Gate Entertainment, reports acquisition and disposal of Class B Common Shares due to vesting of restricted share units and tax obligations.
Summary
- On July 15, 2024, Michael Burns, Vice Chair of Lions Gate Entertainment, reported transactions involving Class B Common Shares.
- He acquired 69,944 shares upon vesting of restricted share performance units.
- 35,448 shares were withheld by the issuer to satisfy tax obligations related to the vesting.
- Additionally, 34,496 shares were cash settled upon vesting of Class B restricted share units.
- Following these transactions, Burns beneficially owns 1,556,629 Class B Common Shares.
- Burns also owns 1,037,746 Class A Common Shares.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing detailing stock transactions related to executive compensation. It doesn't inherently convey positive or negative sentiment.
Industry Context
This filing reflects standard executive compensation practices involving stock-based awards and tax obligations, common in publicly traded companies.
Comparison to Industry Standards
- Stock-based compensation is a common practice among publicly traded companies to align executive interests with shareholder value.
- Vesting schedules and tax withholding practices are standard components of equity compensation plans.
- Companies like Netflix, Disney, and Paramount also utilize similar equity compensation strategies for their executives.
Stakeholder Impact
- The transactions have a minor impact on shareholders as they relate to executive compensation and do not represent a significant change in company ownership.
Key Dates
| Date | Description |
|---|---|
| 07/03/2025 | First vesting date for 139,888 restricted share units in two equal annual installments. |
| 07/15/2024 | Date of transactions involving Class B Common Shares: acquisition, tax withholding, and cash settlement. |
| 07/17/2024 | Date of signature on the Form 4 filing. |
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