Jon Feltheimer to remain head of Lionsgate through 2018

The new contract for the Vancouver-based mini-studio's topper (pictured) follows the acquisition of Summit Entertainment and box office success with The Hunger Games.
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Jon Feltheimer, who has been CEO of Lionsgate since 2000, has renewed his long-term contract through May 2018.

In an SEC filing Monday, Lionsgate said Feltheimer will receive a base salary of $1.5 million and be eligible for a yearly performance bonus targeted at another $1.5 million.

Any portion of the annual bonus over $1.5 million in any year may be paid to him as fully vested company shares.

Feltheimer also received an option for additional common shares and an award of 200,000 restricted stock units for entering into the contract renewal.

The new long-term agreement follows Lionsgate seeing a sharp rise in its share price in the last year after acquiring Summit Entertainment, enjoying box office success with The Hunger Games and rolling out more than two dozen TV series, including Mad Men and Anger Management.

Lionsgate’s market capitalization has increased from $80 million to nearly $4 billion since Feltheimer and vice chairman Michael Burns took control of the Vancouver-based company 13 years ago.

“We are pleased to make this early decision to extend Jon’s tenure as CEO until 2018, providing Lionsgate with extraordinary continuity as he and Michael Burns continue to grow the Company into a next generation global content leader,” said Lionsgate chairman of the board Mark Rachesky.