Marinelli Paul T 4

What Happened Paul T. Marinelli, a director of Paramount Skydance Corp (PSKY), had restricted stock units (RSUs) vest on July 21, 2026 and received 46,893 shares (grant/award, code A). The filing also reports conversion/exercise of 25,000 derivative shares (code M) that were simultaneously disposed. The filing uses the July 21, 2026 closing price of $8.53 to value the shares: 46,893 × $8.53 ≈ $399,997 and 25,000 × $8.53 = $213,250. The transactions show an award/issuance of shares and a same‑day conversion/disposition of derivative shares (no cash exercise price reported).

Key Details

• Transaction date: July 21, 2026; Form 4 filed July 23, 2026 (timely filing).
• Price reported per share: $0.00 exercise/award price on the Form; market close price used for value: $8.53 on 7/21/2026.
• Reported movements:
  • M (exercise/conversion): 25,000 shares acquired @ $0.00 (then 25,000 shares disposed @ $0.00 — reported as a derivative disposition).
  • A (award/ grant): 46,893 shares acquired @ $0.00 (RSU vesting).
• Shares owned after the transaction: Not specified in the provided filing excerpt.
• Footnotes: (1) Shares were issued upon vesting of RSUs granted Aug 7, 2025; (2) each RSU equals one share; (3) remaining RSUs generally vest on the earlier of the 2027 annual meeting or July 21, 2027 unless director elects to defer.

Context

• RSUs represent a contingent right to receive shares on vesting; the A-code shares reflect issuance on vesting rather than an open-market purchase. The M-code entries indicate conversion/exercise of derivative securities (and the reported disposition indicates those converted shares were disposed the same day). No inference about Marinelli’s longer-term view should be made solely from routine RSU vesting or required disposals; the filing is factual and not indicative of company insider sentiment beyond the reported transactions.