Form 4: Lionsgate CEO Jon Feltheimer Reports Changes in Beneficial Ownership Following Lionsgate Studios Corp. Transaction
SEC Form 4
Jon Feltheimer, CEO of Lionsgate Studios Corp., reports changes in his beneficial ownership of securities following the completion of transactions related to the Arrangement Agreement.
Summary
- Jon Feltheimer, CEO of Lionsgate Studios Corp., filed a Form 4 detailing changes in his beneficial ownership of securities.
- The changes are related to the consummation of transactions under the Arrangement Agreement dated January 29, 2025, as amended.
- Equity awards under Lions Gate Entertainment Corp. (LGEC) were converted into awards of Lionsgate Studios Corp. under the New Lionsgate 2025 Plan.
- Feltheimer's holdings include 3,013,260 common shares, including shares from vested restricted share units (RSUs).
- He also holds non-qualified stock options and share appreciation rights.
- The reported transactions occurred on May 9, 2025.
Sentiment
Score: 7
Explanation: The document is a standard regulatory filing detailing changes in beneficial ownership. The sentiment is neutral to slightly positive as it reflects the completion of a corporate transaction and continued executive alignment with company performance.
Positives
- The filing indicates a restructuring of equity awards following the completion of the Arrangement Agreement, which could streamline operations.
- Feltheimer's continued holdings in common shares and derivative securities align his interests with the company's performance.
Future Outlook
The document does not contain specific forward-looking statements beyond the vesting schedules of the RSUs and expiration dates of the options and share appreciation rights.
Industry Context
This filing is a routine disclosure related to executive compensation and ownership changes following a corporate transaction, common in publicly traded companies.
Comparison to Industry Standards
- Executive compensation packages including stock options and RSUs are standard practice among publicly listed media and entertainment companies.
- Companies like Netflix, Disney, and Paramount Global also utilize similar equity-based compensation to align executive interests with shareholder value.
- The vesting schedules and exercise prices of the options are typical for executive compensation plans in the industry.
Stakeholder Impact
- Shareholders are informed about the changes in executive ownership, which can influence investor confidence.
- Employees who hold equity awards are affected by the conversion of LGEC awards to Lionsgate Studios Corp. awards.
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 transactions contemplated by the Arrangement Agreement. |
| May 9, 2025 | Date of the reported transactions and filing. |
| May 13, 2025 | Date of signature on the Form 4 filing. |
| July 1, 2025 | First vesting date for 527,396 RSUs. |
| July 3, 2025 | First vesting date for 393,805 RSUs. |
| July 27, 2025 | Vesting date for 95,388 RSUs. |
| July 1, 2026 | Second vesting date for 527,396 RSUs. |
| July 3, 2026 | Second vesting date for 393,805 RSUs. |
| October 11, 2026 | Expiration date for multiple non-qualified stock options. |
| July 1, 2027 | Third vesting date for 527,396 RSUs. |
| June 7, 2028 | Expiration date for multiple non-qualified stock options. |
| August 21, 2030 | Expiration date for share appreciation rights. |
Keywords
beneficial ownership, Form 4, Lionsgate Studios Corp., Jon Feltheimer, equity awards, Arrangement Agreement, common shares, stock options, share appreciation rights, RSUs
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