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

Charles E. Phillips Jr., a director at Paramount Global, reported the acquisition of Class B common stock and phantom stock units due to dividend crediting and deferred compensation.

Summary

• On July 3, 2024, Charles E. Phillips Jr., a director of Paramount Global, filed a Form 4 with the SEC.
• The report details changes in his beneficial ownership of Paramount Global securities.
• Phillips acquired 267 shares of Class B common stock at $0.00 due to the regular quarterly crediting of vested Restricted Share Units (RSUs).
• He also acquired 16 Phantom Class A Common Stock Units and 28 Phantom Class B Common Stock Units due to cash dividends credited on previously deferred fees.
• Following these transactions, Phillips directly owns 101,278 shares of Class B common stock.
• He also owns 5,062 Phantom Class A Common Stock Units and 5,883 Phantom Class B Common Stock Units.
• A Power of Attorney was executed on July 2, 2024, appointing Caryn K. Groce as attorney-in-fact to handle SEC filings on Phillips' behalf.

Sentiment

Score: 5

Explanation: The document is a routine SEC filing detailing changes in beneficial ownership, which is neutral in sentiment.

Positives

• The acquisition of shares and units reflects ongoing participation in Paramount Global's compensation arrangements for directors.

Industry Context

This filing is a routine disclosure related to director compensation and stock ownership, common in publicly traded companies.

Comparison to Industry Standards

• Director compensation packages often include a mix of cash, stock options, and restricted stock units.
• Deferred compensation arrangements are also common, allowing directors to defer income and receive it later, often in the form of stock units.
• The specifics of Paramount Global's director compensation plan would need to be compared to those of peer companies like Disney, Warner Bros. Discovery, and Netflix to assess its competitiveness.

Stakeholder Impact

• The transactions have a minimal direct impact on stakeholders, as they relate to director compensation and ownership.

Key Dates