Lionsgate CEO Jon Feltheimer’s Pay Jumps 61.5% to $10.9 Million
Lionsgate CEO Jon Feltheimer received pay of $10.9 million for the fiscal year ended March 31 — up 61.5% from the $6.7 million he made in the previous year.
The studio made the announcement in an 8-K regulatory filing with the Securities and Exchange commission on Thursday.
Vice Chairman Michael Burns saw his compensation package rise 33.1% to $11.5 million.
The report was filed a month after Lionsgate announced it had agreed to buy pay cabler Starz for $4.4 billion with the goal of becoming a “global content powerhouse.”
Felthimer’s package included $1.5 million in salary, $4.1 million in stock awards, $5.3 million in option awards, and $95,113 in other compensation ($18,761 in club membership dues and $71,882 for personal use of the company-leased jet).
Burns’ package included $1 million in salary, $5 million in stock awards, $5.3 million in option awards, and $221,866 in other compensation (including $204,064 for use of the jet).
The filing noted that Lionsgate stock declined 35.6% in the fiscal year, citing disappointing film performances — which saw “Gods of Egypt,” the final “Hunger Games” and “The Divergent Series: Allegiant” generate disappointing grosses — and said the “year-end numbers did not reflect the financial performance it expected and that it has consistently delivered in recent years.”
Lionsgate’s Compensation Committee was chaired by Canadian entertainment lawyer Arthur Evrensel and also included investor Mark Rachesky and Omnicom Media Group CEO Daryl Simm.
Lionsgate also disclosed in the filing that it will hold its annual shareholders meeting on Sept. 13 in Toronto during the Toronto Film Festival.
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