Paramount Skydance CFO Dennis Cinelli Receives Award, Withholds Shares

What Happened

• Dennis Cinelli, CFO of Paramount Skydance Corp (PSKY), had an installment of Restricted Stock Units (RSUs) vest on July 15, 2026, resulting in 187,500 shares issued to him. The filing also reports a derivative disposition of 187,500 shares (reported at $0) related to the vesting/conversion event.
• To satisfy tax withholding on the vesting, 95,401 shares were withheld by the issuer at a closing price of $9.25 per share, for a withholding value of approximately $882,459. Net new shares retained by Cinelli after withholding were 92,099 (187,500 less 95,401).

Key Details

• Transaction date: July 15, 2026; Form 4 filed July 17, 2026 (timely).
• Vesting issuance: 187,500 shares (reported as exercise/conversion of derivative, code M).
• Tax withholding: 95,401 shares withheld (code F) at $9.25 per share (value ≈ $882,459); these were withheld by the issuer and not sold in the open market (footnote F3).
• Footnotes: Shares issued upon vesting of RSUs originally granted Jan 15, 2026, vesting quarterly over five years (F1). Filing notes inclusion of dividend reinvestment program activity where applicable (F2).
• Shares owned after the transaction: not specified in the excerpt of the filing.

Context

• This was an RSU vesting event rather than an open-market purchase or voluntary sale. The withholding of shares to cover taxes is routine and does not represent a market sale. The filing lists a derivative conversion/settlement entry; essentially the RSUs converted to company shares and a portion were retained by the issuer to satisfy tax obligations.