[Form 4] Lionsgate Studios Corp. Insider Trading Activity

Rhea-AI Filing Summary

Form 4 highlights for Lionsgate Studios Corp. (LION): Vice-Chair Michael R. Burns reported four equity transactions dated 07/01/2025. Two awards added a total of 115,685 common shares (36,575 RSUs from the annual grant and 79,110 performance RSUs) at a deemed price of $0. To satisfy withholding taxes, 68,185 shares were automatically forfeited at average prices near $5.8 (Codes F).

After the transactions, Burns’ direct beneficial ownership stands at 3,080,786 common shares. The filing also discloses sizable unvested RSU positions—at least 385,365 units scheduled to vest between 2025-2028—enhancing future ownership alignment. No open-market purchases or derivative activity were reported.

Insights

Corporate Governance Analyst

TL;DR: Routine equity grants; net share increase modest, impact neutral.

The filing documents standard compensation-related grants and automatic tax-withholding disposals for Vice-Chair Michael Burns. Net of forfeitures, his stake rises by roughly 47.5 k shares to 3.08 M, reinforcing inside ownership but not signaling active buying conviction. Given the absence of open-market purchases, sales for liquidity, or derivative exercises, the disclosure is routine and carries limited immediate market impact.

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

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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)
07/01/2025

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	07/01/2025		A		36,575(1)	A	$0	3,069,861(2)	D
Common Shares	07/01/2025		F		37,741(3)	D	$5.81	3,032,120(4)	D
Common Shares	07/01/2025		A		79,110(5)	A	$0	3,111,230(4)	D
Common Shares	07/01/2025		F		30,444(6)	D	$5.76	3,080,786(4)	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. Represents 85% of target of an annual equity award granted pursuant to the terms of an employment agreement with the reporting person.

2. 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) 137,832 RSUs scheduled to vest in two equal annual installments on July 3, 2025 and 2026; (ii) 316,438 RSUs scheduled to vest in three equal annual installments on July 1, 2025, 2026 and 2027; and (iii) 36,575 RSUs scheduled to vest in three equal annual installments on July 1, 2026, 2027 and 2028.

3. Represents common shares withheld by the Issuer to satisfy certain tax withholding obligations upon the vesting of 105,480 RSUs. The grant of the units was previously reported and, pursuant to the Lionsgate Studios Corp. 2025 Performance Incentive Plan and the Issuer's policies, 37,741 common shares were automatically canceled to cover certain of the reporting person's tax obligations.

4. 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) 137,832 RSUs scheduled to vest in two equal annual installments on July 3, 2025 and 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.

5. Represents common shares issued upon the vesting of 75% of performance RSUs granted pursuant to the terms of an employment agreement.

6. Represents common shares withheld by the Issuer to satisfy certain tax withholding obligations upon the vesting of 79,110 performance RSUs (75% of units that were eligible to vest). The grant of the units is reported herein and, pursuant to the Lionsgate Studios Corp. 2025 Performance Incentive Plan and the Issuer's policies, 30,444 common shares were automatically canceled to cover certain tax obligations.

Remarks:

	Michael Burns (By Adrian Kuzycz by Power of Attorney)	07/02/2025
	** 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.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

How many Lionsgate Studios (LION) shares does Michael Burns now own?

After the reported transactions, he directly owns 3,080,786 common shares.

What types of transactions were reported on the Form 4?

Two grants (Code A) of RSUs totaling 115,685 shares and two withholding disposals (Code F) totaling 68,185 shares.

Did the insider buy shares on the open market?

No. All acquisitions were equity awards; no open-market purchases were disclosed.

What prices were used for the shares disposed to cover taxes?

Shares were withheld at $5.81 (37,741 shares) and $5.76 (30,444 shares).

Are there unvested RSUs remaining?

Yes. The filing lists at least 385,365 unvested RSUs scheduled to vest between 2025 and 2028.