[Form 4] PARAMOUNT GROUP, INC. Insider Trading Activity

Rhea-AI Filing Summary

Form 4 discloses routine equity transactions by Stefan B. Schulz, EVP & CFO of PROS Holdings, Inc. (PRO) on 10 July 2025.

• 2,916 restricted stock units (RSUs) vested and were converted into common shares (Code M).
• 1,330 shares were withheld for taxes (Code F), leaving a net increase of 1,586 shares.
• Following the transactions, Schulz directly owns 286,414 common shares and holds 193,009 unvested/derivative RSUs.
• The RSU conversion price references the $16.27 closing price on the transaction date.
• The reported vesting represents the 11th tranche of a January 10 2022 grant; multiple additional RSU grants with staggered quarterly vesting schedules remain outstanding.

The filing reflects normal compensation-related vesting rather than an open-market purchase or discretionary sale and therefore has limited market impact.

Positive

• Net increase of 1,586 shares indicates insider continues to accumulate equity, supporting alignment with shareholders.
• No open-market sale; disposals were solely for mandatory tax withholding.

Negative

• Disposal of 1,330 shares (tax withholding) marginally reduces public float, but is routine and immaterial.

Insights

Equity Compensation Analyst

TL;DR: Routine RSU vesting; no discretionary selling; neutral impact.

The CFO’s 2,916-share RSU vesting and tax-withholding sale are standard. Net ownership rose to 286,414 shares, signalling continued insider alignment. Because the shares came from a scheduled tranche and the only sale was automatic for taxes, the event does not imply a valuation view. With more than 193k RSUs still unvested, future quarterly Form 4s should show similar patterns. Overall, it neither strengthens nor weakens the investment thesis.

SEC Form 4

FORM 4

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

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

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:			3235-0287
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hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Arndts Wolfgang Carl Frederic

(Last) (First) (Middle)

C/O PARAMOUNT GROUP, INC.

1633 BROADWAY

(Street)

NEW YORK NY 10019

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Paramount Group, Inc. [ PGRE ]

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

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
05/15/2025

4. 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 Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	05/15/2025		A		25,370(1)	A	$0.00	25,370	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Represents Restricted Stock issued pursuant to the Issuer's 2024 Equity Incentive Plan. The Restricted Stock vests on the earlier of (i) one year from the date of grant and (ii) the date of the first annual meeting of stockholders following the grant date, subject to continued service as a director through such date.

	/s/ Timothy Dembo as attorney-in-fact for Wolfgang Carl Frederic Arndts	07/11/2025
	** 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 4 (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 PRO shares does CFO Stefan Schulz now own?

After the July 10 2025 vesting, he holds 286,414 directly owned shares.

What was the transaction price for the RSU conversion?

The RSUs converted at the $16.27 closing price on 10 July 2025.

Were any PRO shares sold on the open market?

No. The 1,330 shares disposed were withheld to cover taxes; no discretionary sale occurred.

How many unvested PRO RSUs remain outstanding for the CFO?

He retains 193,009 unvested RSUs across multiple grants with quarterly vesting schedules.

Does this Form 4 suggest a change in insider sentiment toward PRO?

Likely not; the filing reflects pre-scheduled vesting and mandatory tax withholding, typical of executive compensation plans.