Form 4: Paramount Global Executive Nancy Phillips Reports Share Transactions Following RSU Vesting

EVP and Chief People Officer of Paramount Global, Nancy Phillips, reports the vesting of restricted stock units and subsequent tax withholding, resulting in changes to her beneficial ownership of Class B common stock.

Summary

• Nancy Phillips, EVP and Chief People Officer at Paramount Global, reported transactions related to her holdings of Class B common stock.
• On November 30, 2024, 5,315 restricted stock units (RSUs) vested, converting into Class B common stock.
• These RSUs were part of a grant made on November 30, 2020, and vested in four equal annual installments.
• The vesting of the RSUs resulted in the acquisition of 5,315 shares of Class B common stock at a price of $0.
• Additionally, 2,714 shares were withheld by Paramount Global to cover tax liabilities associated with the vesting of the RSUs at a price of $10.85 per share.
• Following these transactions, Phillips' direct ownership of Class B common stock decreased from 71,026 to 68,312 shares.

Sentiment

Score: 5

Explanation: The document is a routine SEC filing detailing executive stock transactions, which is neither positive nor negative in itself. It reflects standard compensation practices.

Industry Context

This filing is a routine disclosure of executive stock transactions, which is common in publicly traded companies. It reflects the standard practice of using equity-based compensation to align executive interests with shareholder value.

Comparison to Industry Standards

• The vesting of restricted stock units is a common practice for executive compensation across various industries, including media and entertainment.
• Companies like Disney, Warner Bros. Discovery, and Netflix also use similar equity-based compensation plans for their executives.
• The tax withholding of shares is a standard procedure to cover tax liabilities associated with the vesting of equity awards.

Stakeholder Impact

• The transactions have a minor impact on the total outstanding shares of Paramount Global.
• The vesting of RSUs is part of the executive compensation package, which is of interest to shareholders.

Key Dates

Keywords

Paramount Global, Nancy Phillips, Restricted Stock Units, RSU, Class B Common Stock, Beneficial Ownership, SEC Form 4, Executive Compensation, Stock Vesting