Form 4: Paramount Global Director Klieger Reports Acquisition of Phantom Stock Units
SEC Form 4 Filing
Director Robert N. Klieger reports acquisition of Phantom Class A and Class B Common Stock Units due to deferred compensation.
Summary
- Robert N. Klieger, a director of Paramount Global, filed a Form 4 disclosing changes in beneficial ownership.
- The report indicates the acquisition of Phantom Class A Common Stock Units and Phantom Class B Common Stock Units on April 1, 2024, due to deferred compensation.
- Klieger acquired 617 Phantom Class A Common Stock Units at a price of $21.22, bringing the total to 11,623 units.
- Additionally, 1,114 Phantom Class B Common Stock Units were acquired at $11.75, resulting in a total of 13,498 units.
- These units are part of the Issuer's deferred compensation arrangement for directors, with the cash value paid out after retirement from the Board.
Sentiment
Score: 5
Explanation: Neutral sentiment as it's a routine disclosure of deferred compensation.
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
Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, providing transparency to investors.
Stakeholder Impact
- The filing provides transparency to shareholders regarding director compensation.
Key Dates
| Date | Description |
|---|---|
| 04/01/2024 | Transaction date for acquisition of Phantom Class A and Class B Common Stock Units |
| 04/03/2024 | Date of signature for the Form 4 filing |
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