Lionsgate has extended the contract of CEO Jon Feltheimer through the end of July 2029.
The extension was announced in an SEC filing released Wednesday. In Feltheimer’s new contract, he will receive $1.5 million in base pay and will be eligible for performance-based bonuses ranging between $7.5 million and $15 million starting in the 2025 fiscal year. The new contract also contains terms for vested common shares, equity awards, benefit programs and other incentives.
The contract extension comes shortly after Lionsgate spun off its film and TV divisions as a publicly traded separate company called Lionsgate Studios, allowing it to receive more capital as it approaches a long-awaited separation of the main studio and its streaming service, Starz.
In its most recent earnings report, Lionsgate reported a loss for the quarter but cut it from the previous year to $59 million. Subscriber counts for Starz came in at 13.2 million in North America, down from 13.38 million the previous quarter.
