Lionsgate CEO John Feltheimer saw annual compensation plunge to just under $5.6 million in fiscal 2022 from $19.2 million the year before. His cash bonus shrank to $2.8 million from $10 million.
He received no option awards this year, compared with $6.7 million-worth last year, according to an SEC filing. But his stock awards rose to $1 million from $700,000.
Feltheimer’s base salary was unchanged at $1.5 million.
Lionsgate’s fiscal year ends in March.
STX & Lionsgate In Talks For Strategic Partnership
Vice chair Michael Burns saw his total compensation dip to $4.4 million from $8.5 million, according to the proxy filing that lists the pay of a public company’s top five highest-paid executives.
In its analysis section, the board’s compensation committee said Feltheimer “had achieved most of his fiscal 2022 individual goals.” The 72% drop in his cash bonus, it said, was “in order to continue prudent management of the company’s cash position and continue to reflect its commitment to aligning executive and shareholder interests.”
The shares were up 9% over the fiscal year. They’ve been massacred so far this year, however, amid a broad market downturn and economic woes. It closed at just over $9 today — it was at double that in January.
That said, Lionsgate hasn’t been thrilled with its stock price in years. It hopes to ultimately generate more value for shareholders by spinning off Starz and has had several bidders emerge for a stake in the streamer and premium cable platform. News is expected by the end of the summer. The company reports quarterly earnings next Wed.
This week, the company named STX motion pictures chair Adam Fogelson as vice chair of the Lionsgate Motion Pictures Group.
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