Form 4: Paramount Global Executive Caryn K. Groce Reports Acquisition of Restricted Share Units

Caryn K. Groce, EVP, Acting Gen Counsel & Secy of Paramount Global, reports the acquisition of 47,483 Restricted Share Units (RSUs) under the company's long-term incentive plan.

Summary

• On August 5, 2024, Caryn K. Groce, EVP, Acting Gen Counsel & Secy of Paramount Global, acquired 47,483 Restricted Share Units (RSUs).
• These RSUs were granted under the Issuer's long-term incentive plan for no consideration.
• The RSUs will vest in three equal installments beginning on August 5, 2025.
• Upon vesting, a corresponding number of Class B common stock shares, net of tax withholdings, will be delivered on each vest date.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive. It reflects standard executive compensation practices and aligns executive interests with company performance.

Positives

• The grant of RSUs aligns the executive's interests with the long-term performance of Paramount Global.
• The vesting schedule encourages continued service and commitment from the executive.

Future Outlook

The executive will receive Class B common stock in the future as the RSUs vest over time.

Industry Context

This type of equity compensation is common for executives in publicly traded companies to incentivize performance and align interests with shareholders.

Comparison to Industry Standards

• Equity compensation is a standard practice among publicly traded companies like Paramount Global.
• Companies such as Disney, Warner Bros. Discovery, and Netflix also utilize stock options and restricted stock units as part of their executive compensation packages.
• The vesting schedules and terms of these grants often vary based on company performance and individual executive agreements.

Stakeholder Impact

• Shareholders may view this as a positive incentive for the executive to drive long-term value.
• Employees may see this as a standard part of executive compensation.

Next Steps

• The executive will receive Class B common stock as the RSUs vest over the next three years.
• The company will withhold shares to satisfy tax liabilities associated with the vesting of the RSUs.

Key Dates