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

Shari Redstone, a director of Paramount Global, reports changes in her beneficial ownership of Class B common stock and derivative securities due to deferred compensation and annuity payments.

Summary

• Shari Redstone, a director of Paramount Global, filed a Form 4 detailing changes in her beneficial ownership of the company's securities.
• On July 1, 2024, she acquired 438 shares of Class B common stock at $0.0000 due to the crediting of vested Restricted Share Units (RSUs).
• She also received 46,000 shares from GRAT #4 as an annuity payment, which she now directly owns.
• Additionally, she acquired 2,231 Phantom Class A Common Stock Units and 3,943 Phantom Class B Common Stock Units due to deferred compensation.
• Following these transactions, Redstone directly owns 599,728 shares of Class B common stock and indirectly owns 17,050 shares through a GRAT.
• She also holds 50,395 Phantom Class A Common Stock Units and 58,136 Phantom Class B Common Stock Units.
• A Power of Attorney was executed on June 26, 2024, appointing Caryn K. Groce as attorney-in-fact to file reports on Redstone's behalf.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive as the transactions reflect standard compensation practices and planned asset distributions, indicating continued involvement by a key insider.

Positives

• The acquisition of shares and units reflects ongoing participation in the company's compensation and deferred compensation plans.
• Receipt of shares from the GRAT indicates a planned distribution of assets.

Industry Context

Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, providing transparency to investors.

Stakeholder Impact

• The transactions provide transparency to shareholders regarding insider activity.
• The ongoing participation in compensation plans may positively impact employee morale.

Key Dates