LION Form 4: McCaw reports 80,919-share disposition including 20,066 RSUs

Rhea-AI Filing Summary

Susan McCaw, a director of Lionsgate Studios Corp. (ticker: LION), reported a transaction dated 09/12/2025 on a Form 4 filed 09/15/2025. The filing discloses a disposition of 80,919 common shares. The filing states that this amount includes 20,066 restricted share units that are payable upon vesting and are scheduled to vest on November 29, 2025. The Form 4 is signed by Susan McCaw via power of attorney and indicates the filing was made by one reporting person. No derivative transactions, prices, or post-transaction beneficial ownership totals beyond the disclosed amount are provided in the text.

Positive

• Timely disclosure of insider transaction filed within days of the transaction (filed 09/15/2025 for a 09/12/2025 trade).
• Vesting detail provided: the filing specifies that 20,066 restricted share units are scheduled to vest on 11/29/2025, giving clarity on future potential share issuance.

Negative

• Insider disposition of 80,919 shares which may be perceived negatively by some investors despite lack of stated reason.
• Post-transaction ownership totals and transaction price are not disclosed in the provided text, limiting assessment of impact.

Insights

Securities Analyst

TL;DR: Routine insider disposition disclosed; includes unvested restricted share units scheduled to vest later this year.

The Form 4 documents a reported sale/disposition of 80,919 common shares by director Susan McCaw on 09/12/2025, filed 09/15/2025. The filing explicitly notes that 20,066 of the reported shares are restricted share units that will vest on 11/29/2025. The report lacks explicit sale price, remaining beneficial ownership totals, or explanation of the disposition reason, so material valuation impact cannot be assessed from this filing alone. The disclosure meets Section 16 reporting requirements and notifies investors of recent insider activity.

Corporate Governance Expert

TL;DR: Disclosure is compliant and precise on vesting schedule; missing context on ownership after trade.

The filing identifies Ms. McCaw as a director and shows a disposal event including both vested shares and 20,066 restricted share units that remain scheduled to vest on 11/29/2025. From a governance perspective, the clear identification of role, transaction date, and vesting schedule is appropriate. The Form does not provide post-transaction beneficial ownership totals or transaction codes beyond the disposition amount, limiting assessment of alignment with company insider-holding policies.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
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hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

McCaw Susan

(Last) (First) (Middle)

LIONSGATE

2700 COLORADO AVENUE

(Street)

SANTA MONICA CA 90404

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Lionsgate Studios Corp. [ LION ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
09/12/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Shares								80,919(1)	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Amount includes 20,066 restricted share units granted by the Issuer, payable upon vesting in an equal number of common shares of the Issuer, that are scheduled to vest on November 29, 2025.

Remarks:

	Susan McCaw (By Adrian Kuzycz by Power of Attorney)	09/15/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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FAQ

What did Susan McCaw report on the Form 4 for LION?

The Form 4 reports a disposition of 80,919 common shares by director Susan McCaw, with the transaction dated 09/12/2025.

When was the Form 4 filed for the LION insider transaction?

The Form 4 was signed and filed on 09/15/2025.

Does the filing mention any restricted share units (RSUs)?

Yes. The filing states the amount includes 20,066 restricted share units that are payable upon vesting and scheduled to vest on 11/29/2025.

What is Susan McCaw's role at Lionsgate (LION)?

The Form 4 identifies Susan McCaw as a Director of Lionsgate Studios Corp.

Is the sale price or remaining beneficial ownership shown in the filing text?

No. The provided content does not include a sale price or the post-transaction beneficial ownership total.