Business Context and Reporting Period
This Form 8-K Current Report was filed by Starz Entertainment Corp. on September 11, 2026. The filing discloses the execution of a new employment agreement with Alison Hoffman, President of Starz Networks, effective August 6, 2026, and continuing through December 31, 2029.
Key Financial Metrics
This filing does not contain financial performance data such as revenue, profit, cash flow, margins, debt, or liquidity. The document focuses exclusively on executive compensation arrangements.
Material Changes
The primary material change is the superseding of Ms. Hoffman's prior employment agreement (dated February 27, 2023) with a new contract containing the following terms:
- Base Salary: $1,485,000 annually.
- Annual Bonus: Target opportunity of 150% of base salary, subject to performance criteria.
- Equity Awards: Target grant date value of 100% of base salary annually, requested for approval on April 1, 2027, 2028, and 2029.
- Severance: Upon qualifying termination, cash severance equal to the greater of the remainder of the term or 18 months of base salary, plus COBRA premiums for up to 18 months.
- Change in Control: Additional lump-sum payment of 70% of applicable severance if termination occurs within 30 days prior to or 12 months following a change in control. Accelerated vesting of equity awards may also apply.
Guidance, Outlook, and Risks
The filing contains no financial guidance, outlook, or management commentary regarding business operations. The primary risk disclosed relates to the financial obligations triggered by qualifying terminations or changes in control, which could result in significant one-time cash outflows and equity acceleration.
Investor Verification Checklist
- Verify the specific performance criteria for the 150% target bonus and equity awards.
- Review the definition of "qualifying termination" in the full text of Exhibit 10.1 to understand severance triggers.
- Confirm the mix of equity awards (time-based vs. performance-based) to be granted in future years.
- Assess the potential impact of the 18-month severance cap and change-in-control provisions on future cash flow.