Lionsgate Studios (LION) Vice Chair reports year-end tax sale of shares

Rhea-AI Filing Summary

Lionsgate Studios Corp. insider Michael Burns, who serves as Vice Chair, reported a transaction in company stock. On December 23, 2025, he sold 21,748 common shares at a weighted average price of $9.01 per share. After this year-end tax planning transaction, he beneficially owns 3,061,213 shares.

This total includes restricted share units (RSUs) that convert into common shares as they vest. These RSUs cover 68,916 units vesting on July 3, 2026, 210,958 units vesting in two equal annual installments on July 1, 2026 and 2027, and 36,575 units vesting in three equal annual installments on July 1, 2026, 2027 and 2028. The filing notes the trades were made solely for year-end tax planning purposes and that the transaction prices ranged from $8.99 to $9.03 per share.

Insights

Equity compensation and insider-transactions analyst

Routine insider sale with large remaining stake and scheduled RSU vesting.

The filing shows Vice Chair Michael Burns executed a Form 4-reportable transaction on December 23, 2025, selling 21,748 common shares at a weighted average of $9.01. The transaction is coded as a sale and is explicitly described as being effected solely for year-end tax planning purposes, which is a common administrative reason for insider trades.

After this activity, Burns still beneficially owns 3,061,213 shares, indicating he retains a substantial exposure to Lionsgate Studios Corp. equity. That figure includes multiple tranches of restricted share units: 68,916 RSUs scheduled to vest on July 3, 2026, 210,958 RSUs vesting in two equal installments on July 1, 2026 and July 1, 2027, and 36,575 RSUs vesting in three equal installments on July 1, 2026, July 1, 2027 and July 1, 2028.

The disclosed price range of $8.99 to $9.03 for the individual trades gives transparency into execution levels, and the commitment to provide detailed breakdowns upon request aligns with typical insider reporting practice. Overall, the disclosure reads as a routine, tax-driven transaction rather than a fundamental shift in insider alignment.

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^*

BURNS MICHAEL RAYMOND

(Last) (First) (Middle)

LIONSGATE STUDIOS CORP.

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)

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

3. Date of Earliest Transaction (Month/Day/Year)
12/23/2025

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	12/23/2025		S		21,748(1)	D	$9.01(2)	3,061,213(3)	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. The reported transactions were effected solely for year-end tax planning purposes.

2. The price reported in a weighted average price. These shares were purchased in multiple transactions at prices ranging from $8.99 to $9.03. The reporting person undertakes to provide full information regarding the number of shares and prices at which the transactions were effected upon request of the SEC staff, the Issuer or a security holder of the Issuer.

3. Amount includes the following restricted share units ("RSUs") granted by the Issuer, payable upon vesting in an equal number of common shares of the Issuer: (i) 68,916 RSUs scheduled to vest on July 3, 2026; (ii) 210,958 RSUs scheduled to vest in two equal annual installments on July 1, 2026 and 2027; and (iii) 36,575 RSUs scheduled to vest in three equal annual installments on July 1, 2026, 2027 and 2028.

Remarks:

	Michael Burns (By Adrian Kuzycz by Power of Attorney)	12/29/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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** 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 insider transaction did Lionsgate Studios Corp. (LION) report for Michael Burns?

The company reported that Michael Burns, its Vice Chair, sold 21,748 common shares of Lionsgate Studios Corp. on December 23, 2025 at a weighted average price of $9.01 per share.

What is Michael Burns' ownership in Lionsgate Studios Corp. (LION) after the reported transaction?

Following the reported sale, Michael Burns beneficially owns 3,061,213 shares of Lionsgate Studios Corp., including both common shares and restricted share units that convert into common shares upon vesting.

At what prices were the Lionsgate Studios Corp. (LION) insider trades executed?

The filing states that the weighted average price was $9.01 per share, with individual trades executed at prices ranging from $8.99 to $9.03 per share.

Why were the Lionsgate Studios Corp. (LION) insider transactions by Michael Burns carried out?

The explanation section notes that the reported transactions were effected solely for year-end tax planning purposes, indicating an administrative rather than strategic motive.

What restricted share units (RSUs) does Michael Burns hold in Lionsgate Studios Corp. (LION)?

Michael Burns holds RSUs that will convert into common shares upon vesting, including 68,916 RSUs vesting on July 3, 2026, 210,958 RSUs vesting in two equal annual installments on July 1, 2026 and July 1, 2027, and 36,575 RSUs vesting in three equal annual installments on July 1, 2026, July 1, 2027 and July 1, 2028.

What is Michael Burns' role at Lionsgate Studios Corp. (LION)?

In this filing, Michael Burns is identified as an officer of Lionsgate Studios Corp. with the title Vice Chair, making him a reporting person under Section 16 rules.