Lionsgate CEO Jon Feltheimer More Than Doubles His Compensation to $7.9 Million
The executive's stock awards were accelerated when Carl Icahn amassed 33 percent of the company's shares.
Lionsgate co-chairman and CEO Jon Feltheimer more than doubled his compensation year-over-year to $7.9 million while vice chairman Michael Burns more than halved his.
The difference relates to stock awards, with Feltheimer apparently taking advantage of restricted share units that, according to an SEC filing Friday, were fully vested upon a change of control that occurred in June, when Carl Icahn controlled a third of the company’s stock.
In fiscal year 2011, Feltheimer earned a salary of $1.2 million, a bonus of $1.9 million and stock awards of $4.8 million. A year earlier, his stock award was just $412,800 and his total compensation was $3.6 million.
Burns, on the other hand, earned $2.7 million in fiscal 2011 but $7.7 million a year prior when his stock awards totaled $5.3 million. In fiscal 2011, however, his stock awards fell to $329,598. His salary was $939,487 and his bonus was $1.4 million.
Lionsgate also disclosed Friday that COO Joseph Drake earned $2 million, down from $2.1 million a year ago when he was awarded a larger bonus.
James Keegan, CFO, earned $1.5 million, up from $752,785, courtesy of $708,000 in stock awards while he had zero a year ago.
General counsel and executive vp Wayne Levin earned $3.2 million in fiscal 2011.