Lionsgate CEO Jon Feltheimer Gets Big Raise to $35.3M in Fiscal 2017
The studio head recently signed a new contract through 2023, with front-end-loaded stock options.
Lionsgate, in an SEC filing Friday, revealed CEO Jon Feltheimer's executive compensation package for the company's most recent fiscal year was $35.3 million, up 225 percent from $10.9 million in fiscal 2016.
The latest compensation package follows Lionsgate merging with Starz and Feltheimer signing a new contract through 2023 that is front-end-loaded with stock options.
Feltheimer's fiscal 2017 pay package included $1.5 million in base salary (the same as the year-earlier salary), another $5.4 million in stock awards, $16.3 million in option awards, another $12 million in non-equity incentive compensation and other compensation amounting to $149,000.
The latest year's pay package is still well down from a $66.3 million package in fiscal 2014 when the studio, again as a one-time item, accounted for stock and stock option awards due to Feltheimer for a five-year contract.
Lionsgate vice chairman Michael Burns also got a raise, from $11.5 million in fiscal 2016 to $29.9 million in the latest period. And studio CFO James Barge received in all $10.8 million in overall compensation for fiscal 2017, up from a year-earlier total pay of $1.67 million.
In its proxy statement commentary, Lionsgate highlighted accomplishments for the studio over the last year, including merging with Starz to double the size of its content platform and selling its stake in Epix. The studio also pointed to recent investments to "support our strategy of diversifying our company as a multiplatform global industry leader in entertainment," including acquiring an interest in Primal Media and Laugh Out Loud, a comedy streaming service led by comic and movie star Kevin Hart.
Lionsgate beat profit expectations with its recent fourth-quarter financial results on sharply higher quarterly revenues. The company's stock price is currently nearing $30 in value, around a 52-week high.