Form 4: Paramount Global Director Judith McHale Reports Changes in Beneficial Ownership

Director Judith McHale reports acquisition of Phantom Class A and Class B Common Stock Units due to dividend reinvestment in Paramount Global's deferred compensation arrangement.

Summary

• Judith McHale, a director of Paramount Global, filed a Form 4 indicating changes in her beneficial ownership of the company's securities.
• The changes result from the reinvestment of cash dividends into Phantom Class A and Class B Common Stock Units.
• These dividends stem from cash fees previously deferred by McHale under Paramount Global's deferred compensation arrangement for directors.
• On April 1, 2025, McHale acquired 7 Phantom Class A Common Stock Units at a price of $22.57 and 14 Phantom Class B Common Stock Units at a price of $11.73.
• Following these transactions, McHale beneficially owns 3,024 Phantom Class A Common Stock Units and 3,527 Phantom Class B Common Stock Units.
• The cash value of these Phantom Common Stock Units will be paid out after McHale's retirement from the Board.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction related to director compensation, indicating a stable and expected financial arrangement. There are no indications of negative sentiment.

Positives

• The acquisition of additional shares, even in phantom form, demonstrates continued alignment of the director's interests with those of the shareholders.

Future Outlook

The cash value of the Phantom Common Stock Units is paid out after the Reporting Person's retirement from the Board.

Industry Context

Directors often receive compensation in the form of stock or stock options to align their interests with shareholders. Deferred compensation plans are a common way to provide long-term incentives.

Comparison to Industry Standards

• Stock ownership and deferred compensation plans for directors are common across publicly traded companies.
• Companies like Disney, Warner Bros. Discovery, and Netflix also utilize similar compensation structures to incentivize their board members.

Stakeholder Impact

• The transaction has a minor positive impact on shareholders by aligning director compensation with company performance.

Key Dates

Keywords

Form 4, Beneficial Ownership, Paramount Global, Director, Judith McHale, Phantom Stock Units, Dividend Reinvestment, Deferred Compensation