[Form 4] Paramount Skydance Corp Insider Trading Activity

Rhea-AI Filing Summary

Paramount Skydance Corp (PSKY) CEO (and director) reported RSU vesting and related share withholding. On 11/07/2025, 250,000 Class B shares were acquired at $0 upon RSU vesting (code M), and 126,950 shares were withheld (code F) at $15.10 to cover taxes, leaving 123,050 shares held directly. The filing also lists 76,210,742 shares held indirectly by Skydance Entertainment Group, LLC. Following the transaction, derivative holdings show 4,750,000 RSUs remaining.

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

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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^*

Ellison David Ferris

(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)

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

3. Date of Earliest Transaction (Month/Day/Year)
11/07/2025

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
Class B common stock	11/07/2025		M		250,000(1)	A	$0(1)	250,000	D
Class B common stock	11/07/2025		F		126,950(2)	D	$15.1	123,050	D
Class B common stock								76,210,742	I	See Footnote(3)

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 Stock Units(4)	(1)	11/07/2025		M			250,000	(1)	(1)	Class B common stock	250,000	$0.0000(4)	4,750,000	D

Explanation of Responses:

1. The shares identified in Table I were issued on November 7, 2025, upon vesting of an installment of Restricted Stock Units ("RSUs") identified in Table II, which were initially granted on August 7, 2025 and generally vest in equal quarterly installments over a five-year period. On November 7, 2025, the closing price of the Class B common stock on The NASDAQ Global Select Market was $15.10 per share.

2. These shares were withheld by the Issuer to satisfy tax liability incident to the vesting of, and delivery of shares underlying, the RSUs, and were not actually sold or otherwise disposed of in an open-market transaction.

3. By Skydance Entertainment Group, LLC, of which Mr. Ellison is the manager.

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

	/s/ Stephanie Kyoko McKinnon, Attorney-in-Fact	11/12/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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FAQ

What did PSKY's CEO report on Form 4?

Vesting of 250,000 RSU-linked Class B shares at $0 (code M) and withholding of 126,950 shares at $15.10 (code F) for taxes on 11/07/2025.

How many PSKY shares does the CEO hold directly after the transaction?

The filing shows 123,050 Class B shares held directly after the reported transactions.

Does the Form 4 indicate indirect ownership for PSKY?

Yes. It lists 76,210,742 Class B shares held indirectly by Skydance Entertainment Group, LLC.

What price was used for the tax withholding on PSKY shares?

The withholding price was the $15.10 closing price of Class B common stock on 11/07/2025.

How many RSUs remain for the PSKY CEO after this vesting?

Derivative holdings show 4,750,000 RSUs remaining after the transaction.

Were the withheld PSKY shares sold in the open market?

No. The filing states the 126,950 shares were withheld to satisfy tax obligations and were not sold in the open market.