Lionsgate CEO Jon Feltheimer’s compensation has made a strong comeback, reaching $21.5 million in fiscal 2023. This is a significant rebound from the previous year, where his pay totaled $5.6 million. The company disclosed these figures in a proxy filing with the SEC.
Vice Chair Michael Burns also saw a substantial increase in his total pay, reaching $10.1 million in fiscal 2023 compared to $4.4 million in the previous year. CFO Jimmy Barge’s total compensation also rose to $10.9 million from $6.45 million.
In addition to these financial updates, the proxy statement included important dates for the company’s annual shareholder meeting and a special shareholder meeting. On November 28, shareholders will have the opportunity to cast their votes on executive compensation and members of the board of directors.
Furthermore, Lionsgate is preparing to separate its studio business from Starz. This decision, which has been in the works for some time, was initially postponed due to the WGA strike and the acquisition of eOne. However, it is now expected to take effect in the first quarter of 2024, pending shareholder approval.
During the company’s most recent quarterly earnings call, CEO Jon Feltheimer expressed the company’s commitment to the separation, stating that the delay was necessary to navigate regulatory approvals, uncertainties surrounding the strike, and the need to establish an efficient capital structure in a disruptive marketplace.
It is worth noting that Lionsgate confirmed its acquisition of eOne from Hasbro for $500 million in August. This strategic move further solidifies the company’s position in the industry.
