Form 4: Paramount Global Director Charles E. Phillips Jr. Reports Changes in Beneficial Ownership

Director Charles E. Phillips Jr. reports acquisition of Class B common stock and Phantom Stock Units due to dividend reinvestments and deferred compensation.

Summary

• Charles E. Phillips Jr., a director of Paramount Global, filed a Form 4 detailing changes in his beneficial ownership.
• On October 1, 2024, Phillips acquired 257 shares of Class B common stock at $0.00 per share due to the reinvestment of dividends from vested Restricted Share Units (RSUs).
• Following this transaction, Phillips directly owns 101,535 shares of Class B common stock.
• Phillips also acquired 12 Phantom Class A Common Stock Units and 26 Phantom Class B Common Stock Units due to reinvestment of cash dividends from deferred compensation.
• The price of Phantom Class A Common Stock Units was $21.9, and the price of Phantom Class B Common Stock Units was $10.6.
• Following these transactions, Phillips owns 5,074 Phantom Class A Common Stock Units and 5,909 Phantom Class B Common Stock Units.

Sentiment

Score: 6

Explanation: The document reflects standard insider transactions, suggesting a neutral sentiment. The director's participation in dividend reinvestment and deferred compensation plans could be viewed as a slightly positive signal.

Positives

• The acquisition of shares and units reflects Phillips' continued investment in Paramount Global.
• The dividend reinvestment and deferred compensation plans suggest a long-term commitment from the director.

Industry Context

Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, providing transparency to investors.

Comparison to Industry Standards

• Directors commonly use deferred compensation plans and dividend reinvestment programs.
• The specifics of these plans vary across companies and are often tailored to align with individual circumstances and company policies.
• Comparing Phillips' holdings and transactions to those of other directors in similar media companies would provide a more comprehensive benchmark.

Stakeholder Impact

• The transactions have a minimal direct impact on stakeholders.
• The filing provides transparency to shareholders regarding insider activity.

Key Dates