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Starz Entertainment Corp. (STRZ) EVP and General Counsel Audrey Lee retires with severance package

Filing Impact
(Moderate)
Filing Sentiment
(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

Starz Entertainment Corp. reported that Executive Vice President and General Counsel Audrey Lee will retire effective May 1, 2026, and will remain available for transition consultations through May 31, 2026.

Under a Separation Letter, Ms. Lee will receive a lump-sum cash payment equal to 18 months of base salary totaling $1,226,077.36, plus an additional lump-sum equal to 70% of that amount, or $858,254.15. She will also receive payment of COBRA health insurance premiums for up to 18 months after retirement, subject to COBRA coverage limits, and accelerated vesting of her outstanding equity awards. The agreement confirms that her departure qualifies for severance under her existing 2022 severance arrangement and that she will not participate in the Company’s 2026 equity grant cycle.

Positive

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Negative

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Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers Governance
Key personnel changes including departures, elections, or appointments of directors and executive officers.
Item 9.01 Financial Statements and Exhibits Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Severance base payment $1,226,077.36 Lump-sum equal to 18 months of base salary
Additional severance payment $858,254.15 Lump-sum equal to 70% of base payment amount
Retirement effective date May 1, 2026 Effective retirement date for EVP & General Counsel
Transition consultation period end May 31, 2026 End of post-retirement consultation availability
COBRA premium coverage period Up to 18 months From retirement date, subject to COBRA coverage limits
Separation Letter financial
"In connection with her retirement, Ms. Lee has executed a separation letter (the “Separation Letter”) that provides certain benefits"
Consolidated Omnibus Budget Reconciliation Act of 1985 ("COBRA") financial
"payment of Consolidated Omnibus Budget Reconciliation Act of 1985 (“COBRA”) premiums through the period"
accelerated vesting financial
"and (iv) accelerated vesting of her outstanding equity awards"
severance financial
"satisfies the applicable conditions for severance under Section 1(a) of her Starz Severance Agreement"
Severance is the payment and benefits an employer provides to an employee when their job ends, acting like a short-term financial safety net or final paycheck plus extras such as healthcare continuation or stock vesting. Investors care because severance obligations are real costs and potential liabilities that can reduce cash, affect reported profits, and signal how a company handles leadership changes or downsizing, which can influence future performance and shareholder value.
equity grant cycle financial
"confirms that Ms. Lee will not be eligible to participate in the Company’s 2026 equity grant cycle"
Understanding 8-K Material Events →
FALSE000092935100009293512026-04-092026-04-090000929351dei:OtherAddressMember2026-04-092026-04-09
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): April 9, 2026 
Starz Entertainment Corp.
(Exact name of registrant as specified in its charter)
British Columbia, Canada 1-14880 N/A
(State or other jurisdiction
of incorporation)		 (Commission File
Number)		 (I.R.S. Employer
Identification No.)
250 Howe Street, 20th Floor
Vancouver, British Columbia V6C 3R8
1647 Stewart Street
Santa Monica, California 90404
(Address of principal executive offices) (Zip Code)
(604) 648-6559
(Registrant’s telephone number, including area code)
N/A
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange (17 CFR 240.14d-2(b))
☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each class Trading Symbol(s) Name of each exchange on which registered
Common Shares, no par value per share STRZ 
The Nasdaq Stock Market LLC
(Nasdaq Global Select Market)
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
☐

Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On April 9, 2026, Starz Entertainment Corp., a corporation organized under the laws of the province of British Columbia, Canada (hereinafter the “Company”), announced that Audrey Lee, Executive Vice President and General Counsel, will be retiring effective May 1, 2026. Following her retirement, Ms. Lee has agreed to make herself available to the Company for consultation on transition matters through May 31, 2026.

In connection with her retirement, Ms. Lee has executed a separation letter (the “Separation Letter”) that provides certain benefits as follows. Ms. Lee will receive (i) a lump-sum cash payment equal to 18 months of her base salary ($1,226,077.36), (ii) an additional lump-sum cash payment equal to 70% of the foregoing amount ($858,254.15), (iii) payment of Consolidated Omnibus Budget Reconciliation Act of 1985 (“COBRA”) premiums through the period beginning on the Retirement Date and ending on the earlier of (a) 18 months following the Retirement Date or (b) the expiration of the coverage period specified under COBRA, and (iv) accelerated vesting of her outstanding equity awards. The Separation Letter acknowledges that Ms. Lee’s separation from the Company satisfies the applicable conditions for severance under Section 1(a) of her Starz Severance Agreement, dated as of June 1, 2022, and confirms that Ms. Lee will not be eligible to participate in the Company’s 2026 equity grant cycle.
The foregoing description of the Separation Letter is a summary and is qualified in its entirety by reference to the full text of the Separation Letter, which is filed as Exhibit 10.1 hereto and incorporated by reference.




Item 9.01.    Financial Statements and Exhibits.
(d) Exhibits
Exhibit
Number
Exhibit Description
10.1
Separation Letter between Audrey Lee, Starz Entertainment, LLC and Starz Entertainment Corp., dated as of April 15, 2026.
104Cover Page Interactive Data File (embedded within the Inline XBRL document)


SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Starz Entertainment Corp.
Date:April 15, 2026By:/s/ Jamila Daniel
Jamila Daniel
Chief Diversity Officer & EVP, HR







Source: View Original Filing on SEC EDGAR

FAQ

What executive change did Starz Entertainment Corp. (STRZ) disclose?

Starz Entertainment Corp. announced that Executive Vice President and General Counsel Audrey Lee will retire effective May 1, 2026. She will remain available to the company for transition consultations through May 31, 2026, helping support continuity in legal and executive functions.

What severance cash payments will Audrey Lee receive from Starz (STRZ)?

Audrey Lee will receive a lump-sum equal to 18 months of base salary, totaling $1,226,077.36. She will also receive an additional lump-sum equal to 70% of that amount, or $858,254.15, as part of her retirement-related Separation Letter benefits package.

How long will Starz (STRZ) cover Audrey Lee’s COBRA premiums?

Starz will pay Audrey Lee’s COBRA health insurance premiums starting on her retirement date for up to 18 months. This coverage ends earlier if the COBRA coverage period expires before 18 months, providing temporary continuation of her health benefits after retirement.

What happens to Audrey Lee’s equity awards at Starz Entertainment Corp. (STRZ)?

Audrey Lee will receive accelerated vesting of her outstanding equity awards under the Separation Letter. However, the agreement also confirms she will not be eligible to participate in Starz Entertainment Corp.’s 2026 equity grant cycle following her retirement.

How does the Separation Letter relate to Audrey Lee’s 2022 severance agreement?

The Separation Letter states that Audrey Lee’s retirement satisfies the conditions for severance under Section 1(a) of her Starz Severance Agreement dated June 1, 2022. It effectively implements those severance rights while confirming her exclusion from the 2026 equity grant cycle.

Where can investors see the full terms of Audrey Lee’s Separation Letter with Starz (STRZ)?

The full Separation Letter between Audrey Lee, Starz Entertainment, LLC and Starz Entertainment Corp., dated April 15, 2026, is filed as Exhibit 10.1. It is incorporated by reference and provides detailed terms beyond the summarized benefits in the current report.

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