Starz Entertainment Corp. has entered into a new employment agreement with Alison Hoffman, effective August 6, 2026, to serve as President of Starz Networks. The agreement, dated September 11, 2026, supersedes her prior contract and runs through December 31, 2029, unless terminated earlier under specific terms.
Under the terms of the agreement, Hoffman will receive an annual base salary of $1,485,000. She is also eligible for an annual bonus with a target opportunity equal to 150% of her base salary, subject to the achievement of performance goals determined by the Compensation & Talent Committee of the Board of Directors.
The agreement stipulates that the Company will request approval for annual equity awards following April 1, 2027, 2028, and 2029. The target grant date value for these awards is set at 100% of Hoffman’s base salary at the time of the grant. These awards may include time-based restricted share units, performance-based restricted share units, or stock options, provided they match the mix given to similarly situated senior executives. Time-based awards vest ratably over three years, while performance-based awards vest based on the achievement of goals established by the Compensation Committee and the Chief Executive Officer.
The agreement outlines severance terms for qualifying terminations. If Hoffman is terminated during the term of the agreement, she is entitled to cash severance equal to the greater of her remaining base salary for the term of the agreement or eighteen months of base salary. She is also eligible for COBRA premium payments for up to eighteen months. Additionally, if a qualifying termination occurs within 30 days prior to or 12 months following a change in control, she receives an additional lump-sum payment equal to 70% of the applicable severance payment.
Should a change in control occur during the term of the agreement and a qualifying termination happen within six months of that event, outstanding unvested equity awards scheduled to vest within the following twelve months will accelerate and vest. If the term expires and she continues employment without a new agreement, her role becomes at-will, subject to severance terms for qualifying terminations during that period.
The agreement also includes standard restrictive covenants regarding confidentiality and a non-solicitation of employees for twelve months following termination.
