Lionsgate CEO Jon Feltheimer Takes Pay Cut With $5.6 Million Compensation Package

Lionsgate CEO Jon Feltheimer took a pretty steep pay cut in 2022. The media chief’s total compensation dropped more than 70%, falling from $19.1 million to $5.6 million, according to public filings.

The big drop is due to Feltheimer’s shrinking bonus, which was reduced from $10 million in 2021 to $2.8 million. Feltheimer’s total compensation included a $1.5 million base salary, as well as $1 million in stock awards. Feltheimer’s pay package also includes $37,733 in club membership dues, $21,000 in security service costs, and $213,373 in incremental costs for the personal use of the company-leased aircraft.

Michael Burns, Lionsgate’s vice chairman, also took a pay cut. His compensation was nearly halved, falling from $8.5 million to $4.4 million for fiscal 2022. Again, that was largely attributable to a less generous bonus, which fell from $4 million to $2 million. Burns’ package includes a base salary of $1 million and stock awards valued at $1.3 million. It also includes $34,923 in incremental costs for the personal use of Lionsgate’s leased aircraft.

Both Feltheimer and Burns are under contract until 2023, but the company has the option to extend both executives through 2025.

Lionsgate CFO James Barge earned total compensation of $6.4 million, up from $6.3 million in the prior fiscal year. That included a $1 million salary and a $3.2 million in stock awards. COO Brian Goldsmith had total compensation of $5.4 million, up from $4.9 million. That package included a $1 million salary, along with $3.5 million in stock awards.

Lionsgate has announced plans to spin off Starz, the premium pay TV and streaming platform it acquired in 2016 for $4.4 billion. The company is also looking to re-ignite several languishing film franchises such as “Dirty Dancing” and “The Hunger Games” with new installments or reboots. Lionsgate’s stock was up 9% in the fiscal year.