Stock action might get interesting: 8K filed today
Item 8.01 Other Events
On August 15, 2014, Jon Feltheimer, Chief Executive Officer of Lions Gate Entertainment Corp. (the “Company”), entered into a written stock sales plan in accordance with the guidelines specified under Rule 10b5-1 of the Securities Exchange Act of 1934, as amended, and the Company’s policies regarding securities transactions.
Under Mr. Feltheimer’s stock sales plan, a broker not affiliated with the Company may sell up to 1,000,000 of the Company’s common shares, issued pursuant to vested restricted share units held by Mr. Feltheimer, on an equal quarterly basis commencing on or about September 17, 2014 and ending on or about June 30, 2015. Mr. Feltheimer will not influence how, when or whether to affect sales under the plan.
Rule 10b5-1 plans permit individuals who are not in possession of material non-public information to establish pre-arranged plans to buy or sell company stock. These plans can minimize the market effect of insider purchases or sales by spreading these purchases or sales over a more extended period. Additionally, insiders can gradually diversify their investment portfolios and can avoid concerns about whether they had material, non-public information when they sold stock.
Specific sales transactions under the stock sales plan will be disclosed publicly as required by applicable securities laws.
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: August 15, 2014 LIONS GATE ENTERTAINMENT CORP.
By: /s/ James W. Barge
Name: James W. Barge
Title: Chief Financial Officer