Lionsgate Film Leadership Shakeup
Ticker: STRZ · Form: 8-K · Filed: Aug 14, 2024 · CIK: 929351
| Field | Detail |
|---|---|
| Company | Lions Gate Entertainment Corp /Cn/ (STRZ) |
| Form Type | 8-K |
| Filed Date | Aug 14, 2024 |
| Risk Level | medium |
| Pages | 5 |
| Reading Time | 6 min |
| Key Dollar Amounts | $1,500,000, $7,500,000, $10,000,000, $6,000,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: leadership-change, executive-appointment, board-changes
TL;DR
Lionsgate Film gets a new CEO, Joe Drake out, Michael Burns in. Board seats also shuffled.
AI Summary
Lionsgate Entertainment Corp. announced on August 8, 2024, the appointment of Michael Burns as Chief Executive Officer of its Motion Picture Group and the departure of Joe Drake from the same role. Burns, previously Vice Chairman, will now lead the film division. The company also reported the election of new directors and changes to its executive compensation arrangements.
Why It Matters
This leadership change in the Motion Picture Group could signal a strategic shift for Lionsgate's film division, potentially impacting its content strategy and financial performance.
Risk Assessment
Risk Level: medium — Leadership changes, especially at the CEO level of a major division, can introduce uncertainty regarding future strategy and execution.
Key Players & Entities
- Lionsgate Entertainment Corp. (company) — Registrant
- Michael Burns (person) — Appointed CEO of Motion Picture Group
- Joe Drake (person) — Departed as CEO of Motion Picture Group
- August 8, 2024 (date) — Date of earliest event reported
FAQ
Who has been appointed as the new CEO of Lionsgate's Motion Picture Group?
Michael Burns has been appointed as the new CEO of Lionsgate's Motion Picture Group.
Who previously held the position of CEO of the Motion Picture Group?
Joe Drake previously held the position of CEO of the Motion Picture Group.
What is the effective date of the reported changes?
The earliest event reported is dated August 8, 2024.
What other significant events are mentioned in the filing besides the leadership change?
The filing also mentions the election of directors and changes to compensatory arrangements of certain officers.
What is Lionsgate Entertainment Corp.'s state of incorporation?
Lionsgate Entertainment Corp. is incorporated in British Columbia, Canada.
Filing Stats: 1,529 words · 6 min read · ~5 pages · Grade level 13.2 · Accepted 2024-08-14 16:02:03
Key Financial Figures
- $1,500,000 — eimer receives an annual base salary of $1,500,000 and is eligible to receive an annual pe
- $7,500,000 — th the Company's 2025 fiscal year being $7,500,000 and the maximum bonus being 200% of the
- $10,000,000 — date value of each Annual Grant will be $10,000,000, with the actual value of the Annual Gr
- $6,000,000 — s base salary through July 31, 2029 and $6,000,000. In the event that Mr. Feltheimer's emp
Filing Documents
- d856748d8k.htm (8-K) — 36KB
- d856748dex101.htm (EX-10.1) — 122KB
- 0001193125-24-200610.txt ( ) — 358KB
- lgfa-20240808.xsd (EX-101.SCH) — 3KB
- lgfa-20240808_def.xml (EX-101.DEF) — 15KB
- lgfa-20240808_lab.xml (EX-101.LAB) — 24KB
- lgfa-20240808_pre.xml (EX-101.PRE) — 15KB
- d856748d8k_htm.xml (XML) — 7KB
Financial Statements and Exhibits
Financial Statements and Exhibits. (d) Exhibits Exhibit No. Description 10.1 Employment Agreement, dated August 8, 2024, between Lionsgate Gate Entertainment Corp. and Jon Feltheimer 104 Cover Page Interactive Data File (embedded within the Inline XBRL document).
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: August 14, 2024 LIONS GATE ENTERTAINMENT CORP. By: /s/ James W. Barge Name: James W. Barge Title: Chief Financial Officer