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

Director Charles Phillips Jr. reports acquisition of Paramount Global Class B common stock through vesting of restricted share units and dividend equivalents, with deferred receipt.

Summary

• Charles Phillips Jr., a director of Paramount Global, reported changes in his beneficial ownership of the company's Class B common stock on March 1, 2024.
• The transactions involved the vesting of restricted share units (RSUs) granted on March 1, 2023, which vested on March 1, 2024, resulting in the acquisition of 2,169 shares.
• Additionally, 78 shares were acquired due to dividend equivalents that accrued on the RSUs prior to vesting and were reinvested in Class B common stock on the same date.
• Phillips elected to defer receipt of these shares.
• Following these transactions, Phillips beneficially owns 91,148 shares of Class B common stock.
• The closing price of Paramount Global's Class B common stock on March 1, 2024, was $10.95 per share.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing, and the transactions described are typical for executive compensation. Therefore, the sentiment is neutral.

Positives

• The vesting of RSUs and reinvestment of dividend equivalents indicate a continued investment in Paramount Global by a director.

Industry Context

This filing is a routine disclosure of insider transactions, providing transparency to investors regarding the actions of company directors.

Stakeholder Impact

• The filing provides transparency to shareholders regarding director stock ownership.

Key Dates