Form 4: Paramount Global EVP Naveen Chopra Reports Share Transactions

EVP and Chief Financial Officer of Paramount Global, Naveen K. Chopra, reports the vesting of restricted share units and associated tax withholding.

Summary

• On August 24, 2024, Naveen K. Chopra, EVP and Chief Financial Officer of Paramount Global, reported transactions related to Class B common stock.
• 67,837 shares were issued upon the vesting of restricted share units (RSUs) granted on August 24, 2020, in four equal annual installments.
• 34,632 shares were withheld by the issuer to cover tax liabilities related to the vesting of the RSUs at a price of $11.36 per share.
• Following these transactions, Chopra directly owns 194,777 shares of Class B common stock.
• Chopra also updated his power of attorney on August 22, 2024, appointing Caryn K. Groce as his attorney-in-fact for SEC filings.

Sentiment

Score: 5

Explanation: The document is a standard SEC filing detailing stock transactions, and does not inherently convey positive or negative sentiment. It's a factual report of executive compensation and ownership.

Industry Context

This filing is a routine disclosure related to executive compensation and stock ownership, common in publicly traded companies. It provides transparency into the holdings and transactions of key personnel.

Comparison to Industry Standards

• Executive compensation packages including restricted stock units are standard practice among publicly traded companies, including Paramount Global's competitors like Disney (DIS), Netflix (NFLX), and Warner Bros. Discovery (WBD).
• The vesting schedules and tax withholding practices are generally consistent with industry norms.
• The dividend reinvestment program is a common method for executives to increase their holdings in the company.

Stakeholder Impact

• The filing provides transparency to shareholders regarding executive compensation and ownership.
• The tax withholding impacts the company's cash flow and tax liabilities.

Key Dates