Form 4: Paramount Global Executive Katherine Gill-Charest Reports Stock Transactions
SEC Form 4 Filing
EVP, Controller & CAO of Paramount Global, Katherine Gill-Charest, reports acquisition and disposal of Class B common stock and Restricted Share Units (RSUs) related to vesting and tax obligations.
Summary
- Katherine Gill-Charest, EVP, Controller & CAO of Paramount Global, filed a Form 4 detailing changes in beneficial ownership.
- On March 1, 2024, Gill-Charest acquired 8,174 shares of Class B common stock upon vesting of RSUs granted on March 1, 2023.
- An additional 4,383 shares of Class B common stock were acquired on the same date, stemming from RSUs granted on March 1, 2022.
- 4,526 shares were withheld by Paramount Global to cover tax liabilities associated with the vesting of RSUs.
- Gill-Charest also reported acquiring 55,174 RSUs that will vest in three equal annual installments starting March 1, 2025.
- The closing price of Paramount Global's Class B common stock on March 1, 2024, was $10.95 per share.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing detailing stock transactions. It doesn't inherently convey positive or negative sentiment about the company's performance.
Positives
- The acquisition of shares through RSU vesting indicates a continued alignment of the executive's interests with the company's performance.
Future Outlook
55,174 RSUs will vest in three equal annual installments beginning on March 1, 2025.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. These filings are closely watched by investors for signals about management's confidence in the company's prospects.
Comparison to Industry Standards
- Monitoring insider transactions is a standard practice across publicly traded companies, including peers like Disney (DIS), Warner Bros. Discovery (WBD), and Netflix (NFLX).
- The vesting schedules and tax withholding practices described are typical for RSU grants in executive compensation packages.
- Comparable companies also use similar long-term incentive plans to align executive compensation with shareholder value.
Stakeholder Impact
- Shareholders can use this information to understand executive compensation and alignment with company performance.
Key Dates
| Date | Description |
|---|---|
| 03/01/2022 | Initial grant date of RSUs from which shares vested on 03/01/2024 |
| 03/01/2023 | Initial grant date of RSUs from which shares vested on 03/01/2024 |
| 03/01/2024 | Date of transaction: vesting of RSUs and acquisition/disposal of shares |
| 03/01/2025 | First vesting date for newly granted RSUs |
| 03/05/2024 | Date of Form 4 filing |
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