Friday, July 29, 2011

Lionsgate's Feltheimer gained $7.9 million

Lionsgate topper Jon Feltheimer received $7.9 million in compensation for that fiscal year ended March 31 -- a lot more than double the year before because of a regular award triggered by Carl Icahn's effort to consider within the minimajor this past year. Lionsgate made the disclosure inside a 10K/A filing Friday using the Investments and Exchange Commission being an amendment to its May 31 filing. Icahn's proceed to increase his stake to 38%, triggering change-in-control clauses in Feltheimer's contract. Feltheimer, the co-chairman and Boss, received $4.76 milliion available, a $1.9 million bonus along with a $1.two million base salary. Feltheimer, whose contract incurs 2014, gained $3.sixty five million in fiscal 2010 and $7.78 million in fiscal 2009. The filing also revealed that Vice Chairman Michael Burns received $2.69 million this past year, lower from $7.7 million in fiscal 2010 when his stock award was $5.3 million. Joe Drake, co-chief operating officer and mind from the film group, gained $1.99 million chief financial officer James Keegan gained $1.46 million and General Counsel Wayne Levin gained with $3.16 million. General Counsel Wayne Levin gained with $3.16 million, including $a million available-based compensation. Lionsgate reported in May a loss of revenue of $53.six million for that fiscal year, in comparison having a lack of $19.5 million within the prior year, with revenues growing 6% to $1.58 billion while income was up 10% to $68.3 million. It stated the 2011 loss was due mainly to elevated interest expenses, a $14.5 million non-cash loss on extinguishment of debt on its $100 million debt-for-equity swap -- which reduced Icahn's stake from 38% to 33% -- and elevated equity interest loss due mainly to Lionsgate's curiosity about pay cabler Epix. Wall Street's been impressed with Lionsgate's performance in recent several weeks and also the stock expires 21% because the earnings report was launched. Shares closed lower 8 cents at $7.10 on Friday. Contact Dork McNary at dork.mcnary@variety.com

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