Form 4: Paramount Global Executive Katherine Gill-Charest Reports Changes in Beneficial Ownership
SEC Form 4 Filing
EVP, Controller & CAO of Paramount Global, Katherine Gill-Charest, reports the vesting of restricted share units and subsequent changes in her beneficial ownership of Class B common stock.
Summary
- Katherine Gill-Charest, EVP, Controller & CAO of Paramount Global, filed a Form 4 detailing changes in her beneficial ownership of Paramount Global's Class B common stock.
- On March 1, 2025, restricted share units (RSUs) vested, resulting in the issuance of 18,391 shares, 8,175 shares, and 4,382 shares of Class B common stock.
- These RSUs were granted under the Issuer's long-term incentive plan for no consideration.
- The vesting of RSUs corresponds to the first, second, and third installments of grants made on March 1, 2024, March 1, 2023, and March 1, 2022, respectively.
- 15,801 shares were withheld by the Issuer to satisfy tax liabilities related to the vesting of the RSUs.
- Following these transactions, Gill-Charest directly owns 56,102 shares of Class B common stock and indirectly owns 414 shares through a 401(k).
- She also directly owns 36,783, 8,174 and 4,382 Restricted Share Units.
Sentiment
Score: 6
Explanation: The document is a routine filing related to executive compensation. It doesn't contain any particularly positive or negative news, but reflects standard corporate governance practices.
Positives
- The vesting of RSUs indicates that the executive is meeting the requirements of the long-term incentive plan.
Industry Context
Executive compensation and stock ownership are common practices in publicly traded companies like Paramount Global to align management's interests with those of shareholders.
Comparison to Industry Standards
- Executive compensation packages, including RSUs, are standard practice among publicly traded companies like Paramount Global.
- Companies such as Disney (DIS), Warner Bros. Discovery (WBD), and Netflix (NFLX) also utilize similar equity-based compensation plans for their executives.
- The vesting schedules and terms of these plans can vary, but the underlying goal is to incentivize long-term performance and retention.
Stakeholder Impact
- The vesting of RSUs has a minor dilutive effect on existing shareholders.
- The tax liability satisfied by withholding shares impacts the company's cash flow and share count.
Key Dates
| Date | Description |
|---|---|
| 03/01/2022 | Initial grant date of RSUs vesting in their third of four equal annual installments on 03/01/2025. |
| 03/01/2023 | Initial grant date of RSUs vesting in their second of three equal annual installments on 03/01/2025. |
| 03/01/2024 | Initial grant date of RSUs vesting in their first of three equal annual installments on 03/01/2025. |
| 02/28/2025 | Closing price of Class B common stock was $11.36 per share. |
| 03/01/2025 | Date of transaction (vesting of Restricted Share Units). |
| 03/04/2025 | Date of Form 4 filing. |
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