Patrick Wachsberger
LiveOneAbout Patrick Wachsberger
Independent director at LiveOne, Inc. (LVO), age 73, serving on the board since January 25, 2019; core credentials are in global film production, distribution, and international dealmaking, including co-leading Lionsgate’s Motion Picture Group and founding Picture Perfect Entertainment in 2018 . The board has determined he is independent under Nasdaq rules . He brings decades of media/entertainment leadership with marquee franchise experience and international distribution expertise .
Past Roles
| Organization | Role | Tenure / Dates | Committees / Impact |
|---|---|---|---|
| Lionsgate Films (Motion Picture Group) | Co‑Chairman | Joined Jan 2012 (after Lionsgate acquired Summit Entertainment) | Oversaw global feature film acquisition, production, distribution; film slate generated nearly $10B global box office over five years; led franchises incl. Hunger Games, John Wick; expanded global distribution; honors include Chevalier des Arts et des Lettres |
| Summit Entertainment | Co‑founder/Launch team | 1993 launch referenced | Helped launch Summit; strategic film production/distribution platform |
External Roles
| Organization | Role | Tenure / Dates | Notes |
|---|---|---|---|
| Picture Perfect Entertainment LLC | Founder & Manager | Founded 2018 – present | Film/TV production and distribution studio |
| Other current public company boards | — | — | None disclosed in LVO’s proxy |
Board Governance
- Committee memberships: Compensation Committee member (not Chair) .
- Independence: Board determined he qualifies as an independent director under Nasdaq Rule 5605(a)(2) .
- Attendance: Attended more than 75% of combined board and applicable committee meetings in FY2025 .
- Years of service on this board: Director since January 25, 2019 .
- Executive sessions: Non‑management director executive sessions are presided over by director Jay Krigsman (informal designation) .
- Policies: Company prohibits hedging and pledging of company securities (pledging only with pre‑approval) ; Code of Ethics applies to directors .
Committee Assignments
| Committee | Member | Chair |
|---|---|---|
| Audit | No | — |
| Nominating | No | — |
| Compensation | Yes | No |
Fixed Compensation (Director Pay)
Policy and actuals indicate director compensation is equity‑based (RSUs), with no cash fees paid in FY2025; meeting fees are not paid .
| Component | Policy / Detail | FY2025 Amounts (for Wachsberger) |
|---|---|---|
| Annual retainer (cash) | Not paid in cash; equity‑based structure | $0 cash |
| Equity – annual RSUs (base) | $90,000 in RSUs to each independent director; number of RSUs based on FMV at grant | Included in stock awards $86,530 total |
| Committee member RSUs | +$5,000 RSUs for Compensation Committee members; +$10,000 RSUs for Audit members; additional chair premia (Audit +$15,000; Comp +$10,000) | Compensation Committee member eligible for +$5,000 RSUs per policy |
| Meeting fees | None | $0 |
| FY2025 director RSU grants recognized | Sept 10, 2024 grant for period Oct 1, 2023–Sept 30, 2024 at $1.57 per RSU; vested Oct 31, 2024; his portion attributed to FY2025 = $43,265 grant date fair value | Stock awards (aggregate in FY2025): $86,530 |
| Cash total | — | $0 |
| Total | — | $86,530 |
Notes:
- As of March 31, 2025, the board had not yet determined awards for the Oct 1, 2024–Mar 31, 2025 period; a further RSU award was anticipated (vesting expected by Oct 31, 2025, subject to service), per policy review underway .
Performance Compensation
| Element | Structure | Performance Metrics |
|---|---|---|
| Director equity | Time‑based RSUs; no options typically granted to directors in recent year | No director‑specific performance metrics disclosed; director compensation is not tied to revenue/EBITDA/TSR |
Other Directorships & Interlocks
| Category | Disclosure |
|---|---|
| Current public company directorships | None disclosed for Wachsberger in LVO’s proxy |
| Compensation Committee interlocks | Company discloses no compensation committee interlocks or insider participation requiring disclosure; members were not officers/employees during FY2025 |
Expertise & Qualifications
- Media and entertainment industry leadership (production, global distribution, franchise building), including co‑leading Lionsgate’s film group and expanding international distribution platforms .
- Recognitions include Chevalier des Arts et des Lettres (2017), CineEurope’s International Distributor of the Year (2018), “Game Changer” at Zurich Film Festival (2016) .
- Strategic M&A/distribution partnerships in major territories; experience in China and India film markets .
Equity Ownership
| Item | Detail |
|---|---|
| Total beneficial ownership | 257,527 shares; represents less than 1% of outstanding shares |
| Components (as disclosed) | Includes 25,000 vested stock options; includes 60,510 vested RSUs granted in 2024; includes 5,170 shares held by Wachsberger Family Trust (shared voting/dispositive power) |
| Ownership alignment | Director compensation paid in RSUs; no cash fees in FY2025 |
| Hedging/pledging | Company policy prohibits hedging and prohibits pledging without pre‑approval |
Related‑Party Transactions and Conflicts
- Production agreement with an affiliate of Mr. Wachsberger: the company reports incurring no costs for the years ended March 31, 2025 and 2024 (immaterial), but the relationship is monitored under related‑party oversight .
- Audit Committee is responsible for reviewing and approving related‑person transactions per charter and policy .
Governance Assessment
- Positives:
- Independent director with strong sector expertise; attends >75% of meetings, supporting engagement .
- Sits on Compensation Committee; no interlocks disclosed; committee composed entirely of independent directors .
- Director pay is equity‑heavy (RSUs), aligning with shareholder interests; no cash retainers or meeting fees in FY2025 .
- Company has hedging/pledging restrictions and a Code of Ethics .
- Watch items / potential red flags:
- Related‑party arrangement with an affiliate exists (though no costs recorded in FY2025/FY2024); remain attentive to any future monetization or expansion of such arrangements .
- Board lacks a formally designated Lead Independent Director, though executive sessions are led by an independent director (Krigsman), which partially addresses independent oversight .
- Company‑level listing compliance matters (reverse split proposal to address bid‑price deficiency) are broader governance risk factors to monitor, though not specific to this director .