Form 4: Starz Entertainment Corp: Executive Vice President Jason Wyrick Reports Changes in Beneficial Ownership
SEC Form 4 Filing
Jason Wyrick, Executive Vice President at Starz Entertainment Corp, reports changes in beneficial ownership of common shares and non-qualified stock options following the consummation of transactions related to the Arrangement Agreement.
Summary
- On May 9, 2025, Jason Wyrick, an Executive Vice President at Starz Entertainment Corp, filed a Form 4 to report changes in his beneficial ownership of the company's securities.
- These changes are related to the Arrangement Agreement dated January 29, 2025, and amended on March 12, 2025, involving Lions Gate Entertainment Corp (LGEC) and Lionsgate Studios Corp.
- As part of the agreement, equity awards outstanding under LGEC's equity plans were converted into awards of Issuer under the Starz 2025 Plan.
- Wyrick acquired 24,825 common shares at $0 and disposed of 27,985 common shares.
- He also reports ownership of 2,803 non-qualified stock options with an exercise price of $19.2, fully vested and exercisable as of May 9, 2025, expiring on July 1, 2029.
- Following these transactions, Wyrick beneficially owns 2,803 derivative securities and 27,985 common shares, including restricted share units (RSUs) vesting at various dates in July 2025, 2026 and 2027.
Sentiment
Score: 7
Explanation: The document is a routine regulatory filing, indicating standard corporate governance practices. The conversion of equity awards to preserve fair market value is a neutral to slightly positive sign.
Positives
- The reporting of transactions is in compliance with SEC regulations.
- The conversion of equity awards is intended to preserve fair market value.
Industry Context
Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, ensuring transparency and compliance with SEC regulations.
Stakeholder Impact
- Shareholders are informed about changes in insider ownership, promoting transparency.
- Employees holding equity awards are impacted by the conversion of these awards under the Starz 2025 Plan.
Key Dates
| Date | Description |
|---|---|
| 2025-01-29 | Date of the Arrangement Agreement between Lions Gate Entertainment Corp and Lionsgate Studios Corp. |
| 2025-03-12 | Date of the amending agreement to the Arrangement Agreement. |
| 2025-05-06 | Consummation of the transactions contemplated by the Arrangement Agreement. |
| 2025-05-09 | Date of the reported transactions and filing of Form 4. |
| 2025-05-13 | Date of signature of the report. |
| 2025-07-01 | Expiration date of the non-qualified stock options is 07/01/2029. |
| 2025-07-01 | Vesting date for 13,629 RSUs in three equal annual installments on July 1, 2025, 2026 and 2027. |
| 2025-07-03 | Vesting date for 8,021 RSUs in two equal annual installments on July 3, 2025 and 2026. |
| 2025-07-27 | Vesting date for 3,175 RSUs. |
| 2029-07-01 | Expiration date of the non-qualified stock options. |
Keywords
Form 4, beneficial ownership, Starz Entertainment Corp, Jason Wyrick, equity awards, common shares, stock options, RSUs, Arrangement Agreement, Lions Gate Entertainment Corp, Lionsgate Studios Corp
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