Lionsgate CEO John Fellheimer saw annual compensation drop to $ 5.6 million in fiscal 2022 from $ 19.2 million a year earlier. His cash bonus was reduced from $ 10 million to $ 2.8 million.
It received no option premiums this year, down from $ 6.7 million last year, according to a SEC filing. Last year’s option allocation was increased with the new contract.
His stock premium increased from $ 700,000 to $ 1 million.
Feltheimer’s base salary remained unchanged at $ 1.5 million.
Lionsgate’s fiscal year ends in March.
Vice President Michael Burns saw his total compensation drop from $ 8.5 million to $ 4.4 million, according to a proxy file listing the pay of the public company’s five highest-paid executives.
In its analysis section, the council’s compensation committee said that Fellheimer “has achieved most of his individual goals for fiscal year 2022”. The 72% drop in his cash bonus, he said, “is to continue to manage the company’s cash position prudently and continue to reflect its commitment to aligning the interests of executives and shareholders.”
The stock rose 9% in the fiscal year. Lionsgate’s TV division, in particular, had a successful year with multiple series renewed or re-shot. The company became the primary tenant with the naming rights to the new Lionsgate Studios complex in Yonkers and future Newark, NJ.
Equities have faltered amid large market declines and economic woes in recent months. The stock closed today at just over $ 9, more than double from January.
That said, Lionsgate hasn’t been thrilled with its share price over the years. Over time, it hopes to create more shareholder value by spinning off Starz, and numerous bidders have emerged for a stake in the premium cable and streaming platform. The news is expected by the end of the summer. The company reports quarterly earnings next Wednesday.
This week, the company named STX Motion Pictures president Adam Fogelson vice president of Lionsgate Motion Pictures Group.
Source: Deadline
Elizabeth Cabrera is an author and journalist who writes for The Fashion Vibes. With a talent for staying up-to-date on the latest news and trends, Elizabeth is dedicated to delivering informative and engaging articles that keep readers informed on the latest developments.
