[Form 3] Paramount Global Initial Statement of Beneficial Ownership

Rhea-AI Filing Summary

Charles Schwab Corp. (SCHW) – Form 4 insider transaction: Director Carolyn Schwab-Pomerantz reported two Rule 10b5-1 programmed sales executed on 07/03/2025.

• Shares sold: 14,400 shares held in trust at a weighted-average price of $91.5906 and 9,600 shares held by spouse-as-trustee at $91.5885; total 24,000 shares (~$2.2 million).
• Remaining beneficial ownership: 1,491,598.6599 shares indirectly via trust, 469,714 shares indirectly via spouse, 9,624 shares held directly, and 2,798 shares via LLC.
• Trading plan: Sales executed under a 10b5-1 plan adopted 08/14/2024, indicating pre-arranged, automatic transactions.

No derivative securities were involved and there is no indication of additional transactions. The sale represents a small fraction of the insider’s total holdings and appears to be routine diversification rather than a signal of fundamental change.

Positive

• Transparent execution under a disclosed 10b5-1 trading plan supports good governance.

Negative

• Insider selling can be perceived negatively, although scale is minor relative to total holdings.

Insights

Financial Analyst

TL;DR: Small, pre-planned insider sale; negligible strategic impact.

The insider disposed of just 24k shares (~$2.2 m) versus an aggregate indirect holding exceeding 1.96 million shares. Execution via a previously adopted 10b5-1 plan limits informational value—the transactions were automatic, not discretionary. With no derivatives, no concurrent corporate news, and insignificant percentage sold, I view the filing as routine and neutral to the investment thesis.

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0104
Estimated average burden
hours per response:			0.5

1. Name and Address of Reporting Person^*

Warren Andrew

(Last) (First) (Middle)

1515 BROADWAY

(Street)

NEW YORK NY 10036

(City) (State) (Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
06/27/2025

3. Issuer Name and Ticker or Trading Symbol
Paramount Global [ PARAA,PARA ]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	EVP, Interim CFO

5. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Restricted Share Units(1)	03/01/2026(2)	(2)	Class B common stock	465,549	(2)	D
Restricted Share Units(1)	08/26/2025(3)	(3)	Class B common stock	176,522	(3)	D

Explanation of Responses:

1. Granted under the Issuer's long-term incentive plan for no consideration.

2. These RSUs, originally granted on February 3, 2025, will vest in three equal annual installments beginning on March 1, 2026 and a corresponding number of shares of Class B common stock, net of any shares withheld by the Issuer to satisfy tax liability incident to the vesting of the RSUs, will be delivered on the vest date.

3. These Restricted Share Units ("RSUs"), originally granted on August 26, 2024, will vest in three equal installments beginning on August 26, 2025 and a corresponding number of shares of Class B common stock, net of any shares withheld by the Issuer to satisfy tax liability incident to the vesting of the RSUs, will be delivered on the vest date.

Remarks:

warren-poa062725.txt

	/s/ Caryn K. Groce, Attorney-in-Fact for Andrew Warren	07/07/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

How many SCHW shares did Carolyn Schwab-Pomerantz sell?

She sold 24,000 common shares on 07/03/2025.

What was the average sale price of the shares?

Weighted-average prices were $91.5906 and $91.5885 per share.

Was the transaction part of a 10b5-1 plan?

Yes, the sales were executed under a Rule 10b5-1 plan adopted on 08/14/2024.

How many shares does the insider still own after the sale?

She retains ~1.97 million shares across direct and indirect holdings.

Did the filing include any derivative security transactions?

No, no derivatives were acquired or disposed of in this Form 4.