Form 4: Paramount Global Executive George Cheeks Awarded 285,714 Restricted Share Units

George Cheeks, an officer at Paramount Global, was granted 285,714 restricted share units (RSUs) under the company's long-term incentive plan.

Summary

• On October 8, 2024, George Cheeks, an officer at Paramount Global, was granted 285,714 restricted share units (RSUs) under the company's long-term incentive plan.
• These RSUs will vest in three equal annual installments starting on October 8, 2025.
• Upon vesting, Cheeks will receive Class B common stock, net of any shares withheld for tax liabilities.
• A Power of Attorney was executed on October 10, 2024, appointing Caryn K. Groce as attorney-in-fact to handle SEC filings related to Paramount Global securities.

Sentiment

Score: 7

Explanation: The sentiment is neutral to positive. The granting of RSUs is a standard practice and indicates confidence in the executive's performance and the company's future.

Positives

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

Future Outlook

The document outlines the vesting schedule for the RSUs, indicating that George Cheeks will receive Class B common stock in three equal annual installments starting on October 8, 2025.

Industry Context

Granting RSUs is a common practice in the media and entertainment industry to incentivize executives and align their interests with those of shareholders.

Comparison to Industry Standards

• RSU grants are a standard component of executive compensation packages in the media industry, similar to practices at companies like Disney, Comcast, and Warner Bros. Discovery.
• The vesting schedule of three equal annual installments is also a typical arrangement, designed to retain key personnel over a multi-year period.

Stakeholder Impact

• The RSU grant aligns the executive's interests with those of shareholders, potentially driving long-term value creation.
• Employees may view the RSU grant as a positive sign of the company's commitment to its leadership team.

Next Steps

• The RSUs will vest in three equal annual installments beginning on October 8, 2025.
• Shares of Class B common stock will be delivered upon vesting, net of tax withholdings.

Key Dates