Lionsgate's Jon Feltheimer, Michael Burns Reap 'Hunger Games' Windfall
The mini-studio issued a proxy statement indicating top brass are being well compensated after the company posted its best fiscal year earnings and stock-price run-up ever.
TORONTO – Launching a successful franchise (The Hunger Games) and posting your best fiscal year earnings ever will bump up any CEO's pay.
And a proxy statement issued Monday underlines how Lionsgate CEO Jon Feltheimer and vice chairman Michael Burns are being handsomely compensated by the mini-studio for the company's performance and recent stock-price run-up.
Feltheimer is set to receive a $6 million cash bonus and $2.5 million in share units and other "stock-priced bonuses" on top of his base salary of $1.3 million.
And Burns will receive a $4 million cash bonus and $3 million in share units for his contribution to Lionsgate's ascendancy.
The proxy statement, giving notice of the company's upcoming annual shareholder meeting on Sept. 10 in Toronto, pointed to fiscal 2013 as "a strong year" for Lionsgate.
The Summit Entertainment acquisition helped Lionsgate expand its revenue line and produce adjusted EBITDA of $329.7 million, up 360 percent from the prior year.
Highlights of the 2013 movie slate noted in the proxy statement included the box-office performances of The Twilight Saga: Breaking Dawn – Part 2, Warm Bodies, The Expendables 2 and Madea's Witness Protection, as well as The Hunger Games from the fiscal 2012 theatrical slate.