Form 4: Lionsgate Studios Corp. Executive Brian Goldsmith Reports Changes in Beneficial Ownership
SEC Form 4
Brian Goldsmith, Chief Operating Officer of Lionsgate Studios Corp., reports changes in beneficial ownership of common shares and derivative securities following transactions related to the Arrangement Agreement.
Summary
- Brian Goldsmith, the Chief Operating Officer of Lionsgate Studios Corp., filed a Form 4 detailing changes in his beneficial ownership of the company's securities.
- The filing reports transactions occurring on May 9, 2025, related to the consummation of the Arrangement Agreement.
- These transactions include the conversion of equity awards previously held under Lions Gate Entertainment Corp.'s equity plans into awards of Lionsgate Studios Corp. under the New Lionsgate 2025 Plan.
- Goldsmith acquired 378,064 common shares at $0 and disposed of 1,280,533 common shares.
- He also reports beneficial ownership of several non-qualified stock options with varying exercise prices and expiration dates.
- The reported transactions also include restricted share units (RSUs) that are scheduled to vest at various dates in the future.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing, so the sentiment is neutral. It simply reports transactions related to executive compensation.
Industry Context
This filing is a routine disclosure related to executive compensation and ownership changes following a corporate transaction (the Arrangement Agreement). It's typical for executives to receive and manage equity as part of their compensation packages.
Comparison to Industry Standards
- Executive compensation packages in the entertainment industry often include a mix of salary, stock options, and restricted stock units.
- The specific terms of these awards (vesting schedules, exercise prices) are typically benchmarked against peer companies to attract and retain talent.
- Companies like Netflix, Disney, and Paramount Global also utilize similar equity-based compensation strategies for their executives.
Stakeholder Impact
- The reported transactions may have a minor impact on shareholders due to the change in ownership of shares.
- Employees who were service providers of LGEC and are now with the Issuer are impacted by the conversion of equity 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 the transactions contemplated by the Arrangement Agreement. |
| May 9, 2025 | Date of the reported transactions. |
| May 13, 2025 | Date of signature on the Form 4. |
| July 1, 2025 | First vesting date for some RSUs. |
| July 3, 2025 | First vesting date for some RSUs. |
| July 27, 2025 | Vesting date for some RSUs. |
| November 13, 2025 | Expiration date for some stock options. |
| July 1, 2026 | Second vesting date for some RSUs. |
| July 3, 2026 | Second vesting date for some RSUs. |
| July 1, 2027 | Third vesting date for some RSUs. |
| June 7, 2028 | Expiration date for some stock options. |
| November 12, 2028 | Expiration date for some stock options. |
| July 1, 2029 | Expiration date for some stock options. |
Keywords
beneficial ownership, Form 4, Lionsgate Studios Corp., Brian Goldsmith, equity awards, stock options, restricted share units, Arrangement Agreement
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