Form 4: Lionsgate Studios CFO James Barge Reports Changes in Beneficial Ownership Following Corporate Restructuring
SEC Form 4 Filing
James Barge, CFO of Lionsgate Studios Corp., reports changes in his beneficial ownership of company securities following the completion of transactions related to the Arrangement Agreement.
Summary
- On May 9, 2025, James W. Barge, CFO of Lionsgate Studios Corp., filed a Form 4 detailing changes in his beneficial ownership of the company's securities.
- The filing reflects transactions related to the Arrangement Agreement finalized on May 6, 2025, which involved the conversion of equity awards previously held under Lions Gate Entertainment Corp. ('LGEC') into awards of Lionsgate Studios Corp.
- Barge acquired 385,378 common shares and disposed of 1,418,767 common shares.
- He also reported holdings of non-qualified stock options and share appreciation rights (SARs) with varying exercise prices and expiration dates.
- The converted awards are now governed by the New Lionsgate 2025 Plan.
- The reported transactions include the conversion of stock options and share appreciation rights, as well as the vesting schedule for restricted share units (RSUs).
Sentiment
Score: 7
Explanation: The document is a routine regulatory filing, indicating standard corporate governance practices. The sentiment is neutral to slightly positive as it reflects the completion of a planned corporate action.
Positives
- The filing provides transparency regarding the CFO's holdings following the corporate restructuring.
- The conversion of equity awards ensures continuity for service providers transitioning to Lionsgate Studios Corp.
- The vesting schedules for RSUs provide a clear timeline for future equity compensation.
Industry Context
Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, providing transparency to investors.
Stakeholder Impact
- Shareholders are informed about the CFO's stake in the company following the restructuring.
- Employees who received equity awards from LGEC are now transitioned to the New Lionsgate 2025 Plan.
Key Dates
| Date | Description |
|---|---|
| 2025-01-29 | Date of the Arrangement Agreement by and among the Issuer, LGEC, LG Sirius Holdings ULC and Lionsgate Studios Holding 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 on the Form 4 filing. |
| 2025-07-01 | First vesting date for a portion of the RSUs (197,773 RSUs vesting in three equal annual installments). |
| 2025-07-03 | First vesting date for a portion of the RSUs (127,987 RSUs vesting in two equal annual installments). |
| 2025-07-27 | Vesting date for 59,618 RSUs. |
| 2026-07-01 | Second vesting date for a portion of the RSUs (197,773 RSUs vesting in three equal annual installments). |
| 2026-07-03 | Second vesting date for a portion of the RSUs (127,987 RSUs vesting in two equal annual installments). |
| 2026-12-28 | Expiration date for share appreciation rights covering 837,504 common shares. |
| 2027-07-01 | Third vesting date for a portion of the RSUs (197,773 RSUs vesting in three equal annual installments). |
| 2028-06-07 | Date the non-qualified stock options become exercisable. |
| 2029-09-26 | Expiration date for share appreciation rights covering 1,252,366 common shares. |
Keywords
beneficial ownership, Form 4, Lionsgate Studios Corp., James Barge, equity awards, Arrangement Agreement, CFO, LION, securities, RSUs, stock options, SARs
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