Form 4: Paramount Global Director Charles E. Phillips, Jr. Acquires Restricted Share Units

Charles E. Phillips, Jr., a director of Paramount Global, acquired 16,195 restricted share units on June 4, 2024, under the issuer's equity plan for outside directors.

Summary

• On June 4, 2024, Charles E. Phillips, Jr., a director of Paramount Global, acquired 16,195 restricted share units.
• The acquisition was made under the issuer's equity plan for outside directors and involved no consideration.
• These restricted share units will vest on the earlier of the date of the Issuer's 2025 Annual Meeting of Stockholders and 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 document reflects a standard transaction related to director compensation, indicating a neutral to slightly positive sentiment as it aligns director interests with company performance.

Positives

• The acquisition of restricted share units aligns the director's interests with those of the shareholders.
• The equity plan incentivizes directors to contribute to the company's long-term success.

Future Outlook

The director's holdings will increase upon vesting of the restricted share units, further aligning their interests with the company's performance.

Industry Context

Director share acquisitions are common in publicly traded companies as a way to align management and shareholder interests. This transaction is part of Paramount Global's compensation strategy for its outside directors.

Comparison to Industry Standards

• Equity compensation for board members is a standard practice across the media and entertainment industry.
• Companies like Disney, Netflix, and Warner Bros. Discovery also utilize stock options and restricted stock units to incentivize their directors.
• The specific number of shares and vesting schedules vary based on company size, performance, and individual director agreements.

Stakeholder Impact

• Shareholders may view this as a positive sign, as it aligns the director's interests with the company's success.
• Employees may see this as a sign of stability and commitment from the board of directors.

Next Steps

• The restricted share units will vest on the earlier of the 2025 Annual Meeting of Stockholders or June 4, 2025.
• Class B shares will be delivered upon vesting, unless the director elects to defer receipt.

Key Dates