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Lionsgate Execs Reap 'Hunger Games' Bonuses But Overall Pay Drops

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Timing of stock grants meant Jon Feltheimer received less overall pay in 2012 than in the previous year, despite engineering the blockbuster franchise rollout and Summit Entertainment takeover.

TORONTO – Lionsgate toppers Jon Feltheimer and Michael Burns have been richly rewarded for engineering the acquisition of Summit Entertainment, The Hunger Games rollout and growing library revenues in the last year.

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In an SEC filing made public on Monday, the indie studio said Feltheimer received a base salary that was bumped up to $1.22 million, a $5 million cash bonus, to help bring his latest annual payout to $6.43 million.

At the same time, Feltheimer, the Lionsgate CEO, received $7.9 million in total compensation in fiscal 2011 from the indie studio, but more due to the timing of stock-based compensation than corporate events.

In fiscal 2012, Feltheimer received $4.7 million stock grants, against only $121,500 in year-earlier stock-based compensation.

Lionsgate vice-chairman Burns received $5.57 million in total compensation for fiscal 2012, well up on the year-earlier payout of $2.68 million.

His latest base salary came to $950,000, but there was a $4 million bonus and another $600,000 in stock awards to reflect an impressive year at Lionsgate where, among other highlights, Carl Icahn got out of the company stock after a failed proxy fight and shares in the indie studio rose 120 percent year-over-year on The Hunger Games momentum.

Other compensation for Lionsgate execs included Steve Beeks receiving $4.5 million in compensation for fiscal 2012, and recently-resigned co-COO Joe Drake receiving a $2 million bonus for the box office performance of The Hunger Games.

The payouts were contained in a schedule 14A document that also indicated the Lionsgate annual shareholders meeting will be held on September 11, 2012 in Toronto, to coincide with the Toronto International Film Festival.