Lionsgate Extends CEO Jon Feltheimer’s Contract to 2029

Lionsgate has prolonged longtime CEO Jon Feltheimer’s contract for one more 5 years by way of July 31, 2029.  

Feltheimer signed a brand new deal in 2020 that aimed to preserve him on the studio by way of Aug. 2025. On Aug. 8, Lionsgate’s compensation committee permitted a brand new employment settlement with the studio head to preserve him as CEO for one more 5 years, the studio stated in a Securities and Alternate Fee submitting on Wednesday.

Feltheimer has served as CEO of the Hollywood studio since March 2000 alongside vice chairman Michael Burns, and that adopted a nine-year run at Sony Photos the place he labored on standard exhibits like Mad About You, The Nanny, Dawsons Creek and Social gathering of 5.

The most recent deal replaces Feltheimer’s present employment settlement, which was amended on Aug. 12, 2022 to run by way of to 2025. The brand new contract has him incomes an annual base wage of $1.5 million and being eligible for an annual efficiency bonus.

The primary bonus beginning with the studio’s 2025 fiscal 12 months will likely be $7.5 million and the utmost bonus will likely be double that concentrate on quantity. The brand new contract additionally accommodates phrases for vested widespread shares, fairness awards, profit applications and different incentives.

Extending Feltheimer’s contract follows the media big lately launching Lionsgate Studios as a standalone, publicly traded firm, break up off from the Starz premium platform. Launching Lionsgate Studios on NASDAQ has aimed to give the Hollywood studio choices earlier than finishing a long-awaited separation of the movie and TV studios and Starz, together with elevating contemporary capital and merging with present companies.

Lionsgate Studios is made up of Lionsgate’s Movement Image Group and Tv Studio enterprise, together with a 20,000-strong movie and TV library. Different current measures to enhance shareholder worth embody giving traders an upcoming vote on a plan to collapse two lessons of shares into one class and provide a 12 % premium to class A voting shareholders at Lionsgate.   

Starz in North America, the place Lionsgate is focusing its development efforts for the premium platform, ended the current first monetary quarter with 13.2 million streaming subscribers, down from 13.38 million clients on the finish of the fourth quarter of fiscal 2024.