Form 4: Lions Gate Entertainment Vice Chair Michael Burns Reports Stock Transactions
SEC Form 4 Filing
Michael Burns, Vice Chair of Lions Gate Entertainment, reports the withholding of shares to cover tax obligations and the vesting of restricted share units.
Summary
- On July 3, 2024, Michael Burns, Vice Chair of Lions Gate Entertainment, reported a transaction involving Class B Common Shares.
- 69,944 shares were withheld by the issuer to cover tax obligations and cash settlement of vesting restricted share units at a price of $8.51.
- Following the transaction, Burns directly owns 1,037,746 Class A Common Shares and 1,556,629 Class B Common Shares.
- The reported holdings include 139,888 restricted share units that will vest in two equal annual installments starting July 3, 2025.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing stock transactions. It doesn't inherently convey positive or negative sentiment.
Future Outlook
139,888 restricted share units are scheduled to vest in two equal annual installments beginning July 3, 2025.
Industry Context
This filing is a routine disclosure of stock transactions by a company executive, which is common in publicly traded companies. It provides transparency to investors regarding insider activity.
Stakeholder Impact
- The transaction provides transparency to shareholders regarding insider stock activity.
Key Dates
| Date | Description |
|---|---|
| 07/03/2024 | Date of transaction involving Class B Common Shares and withholding for tax obligations. |
| 07/03/2025 | First vesting date for 139,888 restricted share units, vesting in two equal annual installments. |
| 07/05/2024 | Date of signature on the Form 4 filing. |
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