Lionsgate CEO John Feltheimer cut his salary very drastically in 2022. The media chief’s total compensation has fallen by more than 70%, falling from $19.1 million to $5.6 million, according to public filings.
The significant drop is due to the shrinking of Feltheimer’s bonus, which was reduced from $10 million in 2021 to $2.8 million. Feltheimer’s total compensation included a base salary of $1.5 million, plus $1 million in stock compensation. Feltheimer’s salary package also includes $37,733 in club membership dues, $21,000 in security services costs, and $213,373 in additional costs for personal use of the company’s charter aircraft.
Michael Burns, vice president of Lionsgate, also cut pay. His compensation was nearly halved, dropping from $8.5 million to $4.4 million for the 2022 fiscal year. Again, that’s largely due to a less generous bonus, which fell from $4 million to $2 million. Burns’ package includes a base salary of $1 million and stock bonuses of $1.3 million. It also includes $34,923 in additional costs for personal use of the Lionsgate charter.
Feltheimer and Burns are both under contract until 2023, but the company has the option to extend both executives until 2025.
Lionsgate’s chief financial officer, James Barge, received a total of $6.4 million in compensation, up from $6.3 million in the previous fiscal year. This included a $1 million stipend and $3.2 million in stock awards. COO Brian Goldsmith received a total of $5.4 million in compensation, up from $4.9 million. That package included a $1 million salary, plus $3.5 million in stock awards.
Lionsgate has announced plans to separate Starz, the premium paid TV and streaming platform it acquired in 2016 for $4.4 billion. The company is also looking to reignite several poor movie franchises like “Dirty Dancing” and “The Hunger Games” with new installments or reboots. Lionsgate stock is up 9% in the fiscal year.
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