Form 4: Paramount Global Director Acquires Additional Phantom Stock Units Through Dividend Reinvestment

Director Frederick Terrell increased his holdings of Paramount Global phantom stock units through dividend reinvestments in the company's deferred compensation arrangement.

Summary

• Frederick Terrell, a director of Paramount Global, reported changes in beneficial ownership on April 3, 2024.
• The transactions involved the acquisition of Phantom Class A and Class B Common Stock Units through dividend reinvestments.
• These units were acquired as part of the Issuer's deferred compensation arrangement for directors.
• On April 1, 2024, 14 Phantom Class A Common Stock Units were acquired at a price of $21.22.
• Additionally, 26 Phantom Class B Common Stock Units were acquired at a price of $11.75 on the same date.
• Following these transactions, Terrell beneficially owns 5,761 Phantom Class A Common Stock Units and 6,362 Phantom Class B Common Stock Units.
• The cash value of these Phantom Common Stock Units is paid out after the director's retirement from the Board.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction related to director compensation, suggesting a neutral to slightly positive sentiment as it indicates the director's continued investment in the company.

Positives

• The director's participation in the dividend reinvestment program signals confidence in the company's long-term prospects.

Future Outlook

The cash value of the Phantom Common Stock Units is paid out after the Reporting Person's retirement from the Board.

Industry Context

Directors often participate in deferred compensation plans as a way to align their interests with the long-term performance of the company. Dividend reinvestment is a common feature of these plans.

Comparison to Industry Standards

• Deferred compensation plans are a common practice among publicly traded companies, including peers like Disney (DIS) and Warner Bros. Discovery (WBD).
• The specific terms of these plans, such as the types of units offered and the payout structure, can vary significantly between companies.

Stakeholder Impact

• The transaction has a minimal direct impact on shareholders, employees, customers, suppliers, and creditors as it relates to director compensation.

Key Dates