Form 4: Paramount Global Director Shari Redstone Reports Vesting of Restricted Share Units and Dividend Reinvestment

Paramount Global Director Shari Redstone reported the vesting of 16,195 Restricted Share Units and the acquisition of 272 shares from dividend reinvestment, electing to defer receipt of these Class B common shares.

Summary

• Shari Redstone, a Director and 10% Owner of Paramount Global (PARAA, PARA), filed a Form 4 reporting changes in her beneficial ownership of Class B common stock.
• On June 4, 2025, 16,195 Restricted Share Units (RSUs), which were granted on June 4, 2024, vested. The shares were not immediately received as the director elected to defer their receipt.
• Additionally, on June 4, 2025, 272 shares of Class B common stock were acquired due to dividend equivalents that accrued on RSUs prior to vesting, which were reinvested. These shares were also deferred.
• The closing price of Paramount Global's Class B common stock on The NASDAQ Global Select Market on June 4, 2025, was $11.93 per share.
• The reporting person's total direct beneficial ownership of Class B common stock increased to 636,334 shares, which includes 17,050 shares received from GRAT #4 as an annuity payment since her last ownership report.

Sentiment

Score: 6

Explanation: The document reports routine insider transactions (vesting of RSUs and dividend reinvestment) and an increase in direct beneficial ownership, which are generally neutral to slightly positive as they indicate continued alignment of interests, but do not convey significant new operational or financial news.

Positives

• The vesting of Restricted Share Units (RSUs) represents a component of director compensation, aligning the director's interests with shareholder value.
• The reinvestment of dividend equivalents into additional Class B common stock further demonstrates a commitment to the company's equity.
• An increase in direct beneficial ownership, including 17,050 shares received from GRAT #4, signals continued insider confidence in the company.

Future Outlook

NA

Management Comments

• The shares identified in Table I represent shares of the Issuer's Class B common stock to which the Reporting Person became entitled, upon vesting of Restricted Share Units ("RSUs") identified in Table II, which were granted on June 4, 2024 and that vested on June 4, 2025, but which have not been received because the director elected to defer receipt.
• Reflects that, since her last ownership report, Reporting Person received 17,050 shares from GRAT #4 as an annuity payment and now reports "direct" beneficial ownership of those shares.
• Represents shares of the Issuer's Class B common stock to which the Reporting Person became entitled with respect to dividend equivalents that accrued on RSUs prior to vesting which were reinvested in Class B common stock on June 4, 2025, but which have not been received because the director elected to defer receipt.

Industry Context

This Form 4 filing is a routine disclosure of insider stock transactions and does not provide broader industry context or trends. It reflects standard compensation practices for directors in publicly traded media and entertainment companies like Paramount Global, where equity awards are common.

Related Party Transactions

• The document mentions the reporting person received 17,050 shares from "GRAT #4" as an annuity payment. While a GRAT (Grantor Retained Annuity Trust) is often a related party vehicle for estate planning, the document does not provide further details on the nature of the relationship or the transaction beyond the annuity payment.

Stakeholder Impact

• Shareholders: The report indicates a director's continued ownership and compensation structure, which aligns director interests with shareholder value. The deferral of shares suggests a long-term holding perspective.
• Employees, Customers, Suppliers, Creditors: No direct impact on these stakeholders is indicated by this routine insider transaction report.

Next Steps

• The director has elected to defer the receipt of the vested shares and dividend equivalent shares, indicating these shares will be received at a later date.

Key Dates

Keywords

Paramount Global, PARAA, PARA, Shari Redstone, SEC Form 4, Insider Trading, Restricted Share Units, RSUs, Beneficial Ownership, Director Compensation, Dividend Reinvestment