Form 4: Paramount Global Director Linda M. Griego Reports Changes in Beneficial Ownership

Director Linda M. Griego reports acquisition and disposal of Paramount Global Class B common stock related to vesting of restricted share units and dividend reinvestment.

Summary

• On May 8, 2024, Linda M. Griego, a director of Paramount Global, reported changes in her beneficial ownership of Class B common stock.
• These changes involve the vesting of restricted share units (RSUs) granted on May 8, 2023, which vested on May 8, 2024, resulting in the acquisition of 9,260 shares.
• Griego elected to defer receipt of these shares.
• Additionally, 145 shares were acquired through dividend equivalents that accrued on RSUs prior to vesting and were reinvested in Class B common stock on the same date, also with deferred receipt.
• The closing price of Paramount Global's Class B common stock on The NASDAQ Global Select Market on May 8, 2024, was $12.82 per share.
• Following these transactions, Griego beneficially owns 64,506 shares of Class B common stock.

Sentiment

Score: 6

Explanation: The sentiment is neutral as the filing reflects routine transactions related to equity compensation and dividend reinvestment. There are no indications of significant positive or negative developments.

Positives

• The vesting of RSUs and dividend reinvestment indicate continued equity ownership by a director, aligning her interests with those of shareholders.

Future Outlook

The director has elected to defer receipt of the shares acquired through RSU vesting and dividend reinvestment.

Industry Context

Form 4 filings are routine disclosures required by the SEC to provide transparency regarding the transactions of company insiders, such as directors and officers, in their company's stock. This filing indicates activity related to equity compensation and dividend reinvestment, which are common practices in publicly traded companies.

Comparison to Industry Standards

• Equity compensation practices, such as RSU grants, are standard across publicly traded companies to align management and director interests with shareholder value.
• Dividend reinvestment programs are also common, allowing shareholders to automatically reinvest dividends into additional shares of the company's stock.
• Comparable companies like Warner Bros. Discovery and Netflix also utilize similar equity compensation and dividend policies.

Stakeholder Impact

• The transactions have a minor positive impact on shareholders by aligning director interests with company performance through equity ownership.

Key Dates