Form 4: Shari Redstone Reports Changes in Beneficial Ownership of Paramount Global Stock

Shari Redstone, a director at Paramount Global, reports transactions involving Class B common stock, including vesting of restricted share units and dividend reinvestments, with deferral of receipt.

Summary

• On May 8, 2024, Shari Redstone, a director of Paramount Global, reported changes in her beneficial ownership of the company's Class B common stock.
• These changes include the vesting of 9,260 Restricted Share Units (RSUs) granted on May 8, 2023, which vested on May 8, 2024, and the reinvestment of dividend equivalents into 145 shares of Class B common stock.
• Redstone elected to defer the receipt of these shares.
• The closing price of Paramount Global's Class B common stock on May 8, 2024, was $12.82 per share.
• Following these transactions, Redstone directly owns 553,290 shares of Class B common stock and indirectly owns 63,050 shares through a GRAT.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing, so the sentiment is neutral. It reflects standard insider transactions.

Positives

• The vesting of RSUs and dividend reinvestment indicate continued investment in Paramount Global by a key director.

Industry Context

Form 4 filings are routine disclosures required by the SEC to provide transparency into the transactions of company insiders, allowing investors to track ownership changes and potential alignment of interests.

Stakeholder Impact

• The filing provides transparency to shareholders regarding insider transactions.

Key Dates