PARA.Paramount Global

Form 4: Paramount Global Executive DeDe Lea Reports Stock Transactions

Sentiment:

SEC Form 4 Filing

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EVP DeDe Lea reports acquisition and disposal of Paramount Global Class B common stock and Restricted Share Units (RSUs) due to vesting and tax obligations.

Summary

  • DeDe Lea, EVP of Public Policy & Government Relations at Paramount Global, filed a Form 4 detailing changes in beneficial ownership.
  • On March 1, 2024, Lea acquired 9,396 shares of Class B common stock at $0 upon vesting of RSUs granted on March 1, 2023.
  • She also acquired 3,778 shares of Class B common stock at $0 upon vesting of RSUs granted on March 1, 2022.
  • 3,852 shares were withheld by Paramount Global to cover tax liabilities related to the vesting of RSUs at a price of $10.95 per share.
  • Lea also acquired 52,546 Restricted Share Units that will vest in three equal annual installments beginning March 1, 2025.
  • Following these transactions, Lea directly owns 60,644 shares of Class B common stock and indirectly owns 819 shares through a 401(k).
  • She also owns 18,791 Restricted Share Units from the 2023 grant, 7,556 Restricted Share Units from the 2022 grant, and 52,546 Restricted Share Units from the 2024 grant.

Sentiment

Score: 5

Explanation: The document is a routine disclosure of stock transactions, indicating a neutral sentiment.

Positives

  • The vesting of RSUs indicates continued alignment of executive compensation with company performance.

Future Outlook

52,546 Restricted Share Units will vest in three equal annual installments beginning on March 1, 2025.

Industry Context

Executive stock transactions are a common occurrence in publicly traded companies and are routinely disclosed to the SEC.

Stakeholder Impact

  • The transactions may have a minor impact on shareholders due to the change in ownership.

Key Dates

DateDescription
03/01/2022Initial grant date of some of the Restricted Share Units (RSUs) that vested on 03/01/2024.
03/01/2023Initial grant date of some of the Restricted Share Units (RSUs) that vested on 03/01/2024.
03/01/2024Date of transactions involving Class B common stock and Restricted Share Units (RSUs) vesting.
03/05/2024Date of Form 4 filing.
03/01/2025First vesting date for the newly granted 52,546 Restricted Share Units (RSUs).

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