Form 4: Starz Entertainment Corp: Executive Vice President Audrey Lee Reports Changes in Beneficial Ownership
SEC Form 4 Filing
Audrey Lee, Executive Vice President, General Counsel, and Secretary of Starz Entertainment Corp, reports changes in beneficial ownership following the conversion of equity awards and transactions related to the Arrangement Agreement.
Summary
- On May 9, 2025, Audrey Lee, an Executive Vice President at Starz Entertainment Corp, filed a Form 4 detailing changes in her beneficial ownership of the company's securities.
- The filing reflects transactions related to the Arrangement Agreement consummated on May 6, 2025, where equity awards were converted under the Starz 2025 Plan.
- Lee acquired 40,396 common shares at $0 and disposed of 43,618 common shares.
- Following these transactions, Lee beneficially owns 43,618 common shares.
- Lee also holds non-qualified stock options to purchase 33,749 shares at $19.20 (expiring 07/01/2029), 414 shares at $11.02 (expiring 05/07/2027), 340 shares at $11.42 (expiring 05/07/2027), and 2,868 shares at $11.42 (expiring 05/07/2027).
- These options are fully vested and exercisable as of the filing date.
- The reported amount includes restricted share units (RSUs) that vest in the future: 5,598 RSUs on July 27, 2025; 14,142 RSUs in two equal annual installments on July 3, 2025 and 2026; and 20,656 RSUs in three equal annual installments on July 1, 2025, 2026 and 2027.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing, so the sentiment is neutral.
Positives
- The reporting of beneficial ownership changes ensures transparency for investors.
- The conversion of equity awards under the Starz 2025 Plan is intended to preserve the fair market value of such awards.
Industry Context
Form 4 filings are a standard part of regulatory compliance for publicly traded companies, providing transparency into the transactions of company insiders.
Stakeholder Impact
- Shareholders are informed about changes in insider ownership, which can influence investor confidence.
- Employees holding equity awards are affected by the conversion of these awards under the Starz 2025 Plan.
Key Dates
| Date | Description |
|---|---|
| January 29, 2025 | Date of the Arrangement Agreement. |
| March 12, 2025 | Date of the amending agreement to the Arrangement Agreement. |
| May 6, 2025 | Consummation of the transactions contemplated by the Arrangement Agreement. |
| May 7, 2027 | Expiration date for some non-qualified stock options. |
| May 9, 2025 | Date of the reported transaction and filing of Form 4. |
| May 13, 2025 | Date of signature on the Form 4. |
| July 1, 2025 | Vesting date for some RSUs. |
| July 3, 2025 | Vesting date for some RSUs. |
| July 27, 2025 | Vesting date for some RSUs. |
| July 1, 2026 | Vesting date for some RSUs. |
| July 3, 2026 | Vesting date for some RSUs. |
| July 1, 2027 | Vesting date for some RSUs. |
| July 1, 2029 | Expiration date for some non-qualified stock options. |
Keywords
beneficial ownership, Starz Entertainment Corp, Audrey Lee, Form 4, equity awards, Arrangement Agreement, common shares, stock options, RSUs, Starz 2025 Plan
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