PSKY Form 4: Chief Legal Officer granted 3,000,000 RSUs

Rhea-AI Filing Summary

Paramount Skydance Corp reported a grant of 3,000,000 Restricted Share Units to Delrahim Makan, its Chief Legal Officer, on 10/06/2025. The RSUs were awarded under the company's long-term incentive plan for no cash consideration and convert into Class B common stock at a stated price of $0.0000. The filing shows these RSUs vest in equal quarterly installments over a 5-year period beginning on 10/06/2025, and the reporting line indicates 3,000,000 shares beneficially owned directly following the grant.

Positive

• 3,000,000 RSUs awarded for no cash consideration, conserving company cash
• Vesting schedule spans 5 years, supporting long-term retention of the Chief Legal Officer

Negative

• Potential dilution from conversion of 3,000,000 RSUs into Class B common stock as they vest
• Large single grant may require additional disclosure on total plan pool and outstanding shares to assess materiality

Insights

Compensation Analyst

Large multi‑year equity grant aligns senior executive pay with long-term performance.

The 3,000,000 Restricted Share Units were granted for no cash consideration and vest quarterly over 5 years, creating a prolonged retention schedule that ties the Chief Legal Officer's compensation to future equity value.

This structure reduces near-term cash outflow but increases potential share issuance over time; monitor outstanding share counts and dilution impact over the next 5 years as RSUs vest.

Corporate Governance Specialist

Grant is a governance signal about executive retention and alignment; size is material to oversight.

The award was made under the issuer's long-term incentive plan and the filing lists direct beneficial ownership of 3,000,000 Class B shares following the transaction, indicating immediate recognition of the grant on Form 4.

Stakeholders should note the vesting cadence commencing on 10/06/2025 and review disclosure of total dilution or plan-share pool in upcoming filings to assess governance impact within a 5-year horizon.

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

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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^*

Delrahim Makan

(Last) (First) (Middle)

1515 BROADWAY

(Street)

NEW YORK NY 10036

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Paramount Skydance Corp [ PSKY ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
10/06/2025

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

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
Restricted Share Units(1)	(2)	10/06/2025		A		3,000,000		(2)	(2)	Class B common stock	3,000,000	$0.0000(1)	3,000,000	D

Explanation of Responses:

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

2. These Restricted Share Units generally vest in equal quarterly installments over a 5-year period commencing on October 6, 2025.

	/s/ Stephanie Kyoko McKinnon, Attorney-in-Fact	10/08/2025
	** 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

What did Paramount Skydance (PSKY) report on Form 4 for 10/06/2025?

The filing reports a grant of 3,000,000 Restricted Share Units to the Chief Legal Officer dated 10/06/2025, vesting quarterly over 5 years.

Who received the RSU award reported on the Form 4?

Delrahim Makan, the Chief Legal Officer, is the reporting person and recipient of the 3,000,000 RSU award.

When do the RSUs begin vesting and over what period?

Vesting commences on 10/06/2025 and generally occurs in equal quarterly installments over a 5-year period.

What class of shares will the RSUs convert into and at what price?

The RSUs convert into Class B common stock with a stated conversion price of $0.0000 per share.

How many shares does the reporting person beneficially own after the transaction?

The filing shows 3,000,000 shares beneficially owned directly following the reported transaction.