Delrahim Makan 4

What Happened

Delrahim Makan, Chief Legal Officer of Paramount Skydance Corp (PSKY), had 150,000 restricted stock units (RSUs) vest on April 6, 2026. The Form 4 shows a conversion/exercise of a derivative (code M) that resulted in the acquisition of 150,000 Class B shares at $0.00 exercise price. At the April 6 close ($9.85/share) those shares were worth about $1,477,500. The filing also records the corresponding disposition of the derivative interest (150,000 units) — i.e., the RSUs were converted into underlying shares rather than sold on the open market.

Key Details

• Transaction date: April 6, 2026; Form 4 filed April 8, 2026 (timely filing).
• Acquired: 150,000 shares via exercise/conversion (code M) at $0.00; market close price that day was $9.85 → ~ $1,477,500 value.
• Disposed: 150,000 derivative units at $0.00 (represents conversion of the RSUs into shares).
• Shares owned after transaction: Not specified in the provided excerpt of the filing.
• Footnote F1: Shares issued on April 6 upon vesting of an RSU installment originally granted Oct 6, 2025; RSUs vest quarterly over five years.
• Footnote F2: Holdings include shares from a dividend reinvestment program (Rule 16a-11).
• No open-market sale reported; this was a vesting/conversion event, not a sale.

Context

This was a routine executive compensation event (RSU vesting) rather than a buy or market sale. The derivative entries reflect conversion of RSUs to common shares (zero exercise price is typical for vested RSUs). Such vesting increases insider shareholdings but does not by itself indicate a buy or sell decision.