PARA.Paramount Global

Form 4: Paramount Global Executive George Cheeks Reports Share Transactions

Sentiment:

SEC Form 4 Filing

📋All filings for Paramount Global
🔒Login to Follow

George Cheeks, an officer at Paramount Global, reported the vesting of restricted share units and subsequent tax withholding of shares on November 30, 2024.

Summary

  • George Cheeks, an officer at Paramount Global, reported transactions involving Class B common stock on November 30, 2024.
  • These transactions include the vesting of 23,916 restricted share units (RSUs) which converted into Class B common stock.
  • Additionally, 13,226 shares were withheld by Paramount Global to cover tax liabilities related to the vesting of the RSUs.
  • The price of the Class B common stock was $10.85 per share on the last business day before the vesting date.
  • Following these transactions, Mr. Cheeks directly owns 92,836 shares of Class B common stock.

Sentiment

Score: 5

Explanation: The document is a routine SEC filing detailing standard executive compensation transactions. It does not indicate any positive or negative sentiment.

Industry Context

This filing is a routine disclosure of insider transactions, which is common for publicly traded companies. It provides transparency into the stock ownership of company executives.

Comparison to Industry Standards

  • The vesting of restricted stock units and subsequent tax withholding is a standard practice in executive compensation across publicly traded companies.
  • Similar filings are regularly made by executives at companies like Disney (DIS), Warner Bros. Discovery (WBD), and Netflix (NFLX) when they receive or dispose of company stock.
  • The specific number of shares and the timing of vesting are unique to each executive's compensation package and company policies.

Stakeholder Impact

  • The transactions have a minor impact on shareholders as they reflect standard executive compensation practices.
  • The tax withholding of shares does not directly affect the company's financials.

Key Dates

DateDescription
11/30/2020Initial grant date of the Restricted Share Units (RSUs) that vested on November 30, 2024.
11/29/2024The last business day before the vesting date, when the closing price of Class B common stock was $10.85 per share.
11/30/2024Date of the reported transactions, including the vesting of RSUs and tax withholding of shares.
12/03/2024Date the SEC Form 4 was signed.

Keywords

Paramount Global, George Cheeks, Class B common stock, Restricted Share Units, RSUs, insider trading, SEC Form 4, share vesting, tax withholding

Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.