Form 4: Paramount Global Executive Christopher D. McCarthy Awarded Restricted Share Units

Christopher D. McCarthy, an officer at Paramount Global, was granted 285,714 Restricted Share Units (RSUs) under the company's long-term incentive plan.

Summary

• Christopher D. McCarthy, an officer of Paramount Global, filed a Form 4 with the SEC.
• The filing reports the grant of 285,714 Restricted Share Units (RSUs) to McCarthy on October 8, 2024, under the company's long-term incentive plan.
• These RSUs will vest in three equal annual installments starting on October 8, 2025.
• Upon vesting, McCarthy will receive Class B common stock, net of shares withheld for tax liabilities.
• The filing also includes a Power of Attorney, effective October 10, 2024, appointing Caryn K. Groce as McCarthy's attorney-in-fact to handle SEC filings related to Paramount Global securities.
• This Power of Attorney revokes any prior Power of Attorney related to the ownership of securities of the Company.

Sentiment

Score: 7

Explanation: The document reflects a standard executive compensation practice, indicating stability and alignment of interests. The sentiment is neutral to slightly positive.

Positives

• The grant of RSUs aligns McCarthy's interests with the long-term performance of Paramount Global.
• The vesting schedule encourages continued service and contribution to the company.

Future Outlook

The RSUs will vest in three equal annual installments beginning on October 8, 2025, contingent on continued service.

Industry Context

Grants of restricted stock units are a common form of executive compensation in the media and entertainment industry, aligning executive incentives with shareholder value.

Comparison to Industry Standards

• Executive compensation packages, including RSU grants, are common in the media industry.
• Companies like Disney, Comcast, and Warner Bros. Discovery also utilize equity-based compensation to incentivize their executives.
• The size of the RSU grant is likely determined based on McCarthy's role, performance, and industry benchmarks for similar positions.

Stakeholder Impact

• Shareholders may view the RSU grant as a positive incentive for McCarthy to contribute to the company's long-term success.
• Employees may see the grant as a sign of the company's commitment to rewarding its executives.

Next Steps

• McCarthy will receive Class B common stock upon vesting of the RSUs, net of tax withholdings.
• Caryn K. Groce will continue to act as McCarthy's attorney-in-fact for SEC filings related to Paramount Global securities.

Key Dates