Form 4: Paramount Global Director Barbara M. Byrne Reports Acquisition of Restricted Share Units

Director Barbara M. Byrne reported the acquisition of 16,195 Restricted Share Units of Paramount Global's Class B common stock on June 4, 2024.

Summary

• On June 4, 2024, Barbara M. Byrne, a director of Paramount Global, acquired 16,195 Restricted Share Units (RSUs) of the company's Class B common stock.
• These RSUs were granted under the Issuer's equity plan for outside directors without any consideration.
• The RSUs will vest on the earlier of the date of the Issuer's 2025 Annual Meeting of Stockholders or June 4, 2025.
• Upon vesting, a corresponding number of Class B shares will be delivered, unless the director has elected to defer receipt.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive as it reflects standard director compensation practices, aligning interests with shareholders.

Positives

• The grant of RSUs to outside directors aligns their interests with those of the shareholders.
• The vesting schedule encourages long-term commitment from the director.

Future Outlook

The director's holdings will increase upon vesting of the RSUs, aligning her interests with the company's performance until at least the 2025 Annual Meeting.

Industry Context

Grants of restricted stock units to directors are a common practice in corporate governance to align the interests of directors with those of shareholders. This encourages directors to focus on long-term value creation.

Comparison to Industry Standards

• Companies like Disney (DIS) and Netflix (NFLX) also use equity-based compensation for their directors.
• The amount of RSUs granted is within the typical range for director compensation at companies of similar size and industry.

Stakeholder Impact

• Shareholders may view this as a positive sign, as it aligns the director's interests with the company's long-term success.
• Employees may see this as a standard practice for director compensation.

Next Steps

• The director will receive Class B shares upon vesting of the RSUs, unless deferral is elected.

Key Dates