v3.25.2
Capital Stock (Tables)
 3 Months Ended
Jun. 30, 2025
Equity and Share-based Compensation [Abstract]  
Schedule of Common Shares Reserved For Future Issuance
The table below outlines common shares reserved for future issuance:
June 30,
2025
 (Amounts in millions)
Stock options and share appreciation rights (SARs) outstanding17.1 
Restricted share units — unvested10.0 
Common shares available for future issuance27.3 
Shares reserved for future issuance54.4 
Schedule of Share-Based Compensation Expense
The Company recognized the following share-based compensation expense during the three months ended June 30, 2025 and 2024:
Three Months Ended
June 30,
20252024
 (Amounts in millions)
Compensation Expense:
Stock options$0.1 $0.2 
Restricted share units and other share-based compensation2.5 13.0 
Share appreciation rights0.2 0.2 
2.8 13.4 
Impact of accelerated vesting on equity awards(1)
(1.1)— 
Total share-based compensation expense$1.7 $13.4 
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(1)Represents the impact of the acceleration of vesting schedules for equity awards pursuant to certain severance arrangements.

Share-based compensation expense, by expense category, consisted of the following:
Three Months Ended
June 30,
20252024
 (Amounts in millions)
Share-Based Compensation Expense:
General and administration$2.8 $13.4 
Restructuring and other(1.1)— 
$1.7 $13.4 
Schedule of Stock Option, SARs, Restricted Stock and Restricted Share Unit Activity
The following table sets forth the stock option, SARs and restricted share unit activity during the three months ended June 30, 2025:

Stock Options and SARs
Old Lionsgate
Class A Voting Shares		Old Lionsgate
Class B Non-Voting Shares		Lionsgate
Number of SharesWeighted-Average Exercise PriceNumber of SharesWeighted-Average Exercise PriceNumber of SharesWeighted- Average Exercise Price
(Number of shares in millions)
Outstanding at March 31, 20252.3 $23.10 14.8 $13.86 — — 
Granted— — — — — — 
Options exercised— — — 
(1)
$7.13 — — 
Forfeited or expired— 
(1)
$7.70 — 
(1)
$11.29 — — 
Outstanding at May 6, 20252.3 $23.09 14.8 $13.86 — — 
Conversion(2.3)— (14.8)— 17.1 $15.09 
Granted— — — — — — 
Options exercised— — — — — — 
Forfeited or expired— — — — — 
(1)
$13.38 
Outstanding at June 30, 2025— — — — 17.1 $15.09 
Restricted Share Units
Old Lionsgate
Class A Voting Shares		Old Lionsgate
Class B Non-Voting Shares		Lionsgate
Number of SharesWeighted-Average Grant-Date Fair ValueNumber of SharesWeighted-Average Grant-Date Fair ValueNumber of SharesWeighted-Average Grant-Date Fair Value
(Number of shares in millions)
Outstanding at March 31, 20250.1 $8.39 11.1 $8.17 — — 
Granted— — 0.1 $7.29 — — 
RSUs vested— 
(1)
$8.41 — 
(1)
$7.55 — — 
Forfeited or expired— — — 
(1)
$7.97 — — 
Outstanding at May 6, 20250.1 $8.39 11.2 $8.16 — — 
Conversion(0.1)— (11.2)— 11.0 $8.16 
Granted— — — — 0.1 $7.34 
RSUs vested— — — — (0.2)$9.08 
Forfeited or expired— — — — (0.9)$8.19 
Outstanding at June 30, 2025— — — — 10.0 $8.13 
__________________
(1)Represents less than 0.1 million shares.