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Lionsgate CEO Jon Feltheimer Sees Compensation Fall 59% to $14.4 Million

Lionsgate chief executive office Jon Feltheimer received $14.4 million in compensation for the fiscal year ended March 31, down 59% from the $35.3 million from the previous year.

The figure was disclosed Friday as part of the company’s proxy statement filed with the Securities and Exchange Commission for its annual meeting on Sept. 11 in Toronto.

Feltheimer’s package includes $1.5 million salary, $3 million in bonuses, $2.7 million in option awards, $7 million in non-equity incentives, and $175,884 in other compensation — including $33,515 in club membership dues and $132,416 in incremental costs for the personal use of the company-leased aircraft.

The previous year’s compensation includes the front-loading of his stock options, worth $16.3 million, that were part of 2016’s five-year extension of Feltheimer’s contract through May 22, 2023. The extension was announced two months before Lionsgate’s $4.4 billion acquisition of premium cabler Starz closed.

The proxy also disclosed that vice chairman Michael Burns made $8.97 million during the fiscal year, declining about 70% from the $26.9 million in the previous year, which included $12.2 million in option awards. Two weeks after the Feltheimer extension, the company gave Burns a five-year contract renewal that extended his deal into 2022.

Feltheimer, 66, and Burns, 58, have run Lionsgate for the past 18 years, far longer than any other duo at an entertainment company.

The Starz acquisition has been touted by Feltheimer as doubling Lionsgate’s scale — giving the combined entity more leverage to compete with corporate behemoths such as Disney and improving its ability to exploit fast-growing digital media platforms. In May, Lionsgate took a controlling stake in management-production powerhouse 3 Arts Entertainment, a deal that reflects the entertainment industry’s push to marry premium content providers with global distribution assets.

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