Paramount Global (the “Company” or “Paramount”) is currently dealing with anticipated trading restrictions in connection with the closing of the transactions contemplated by the Transaction Agreement. The blackout period is impacting the Paramount Global Class A Stock Fund and the Paramount Global Class B Stock Fund in the Paramount Global 401(k) Plan. The blackout period is expected to occur from the week of July 27, 2025, to the week of August 10, 2025, subject to the Transaction closing on August 7, 2025.
During the blackout period, directors and executive officers of Paramount are prohibited from directly or indirectly purchasing, exercising, selling, or otherwise transferring Class A Stock, Class B Stock, or other equity or derivative securities with respect to Class A Stock or Class B Stock. The purpose of this restriction is to ensure that all transactions with respect to Class A Stock and Class B Stock in the Funds can be fully completed before the effective time of the Transaction.
Additionally, participants and beneficiaries in the Plan will be unable to direct or diversify the assets held in their account in the Funds and obtain a loan, withdrawal, or distribution from the Plan if they have any portion of their account invested in the Paramount Global Class A Stock Fund or the Paramount Global Class B Stock Fund during the blackout period.
The anticipated blackout period is separate from any other trading restrictions that may be applicable to directors and executive officers, such as the restrictions on trading under the Paramount Global Insider Trading Policy.
The Company has determined that, due to events that were unforeseeable or circumstances beyond its reasonable control, it was not able to provide advance notice of the foregoing restriction with respect to the Plan.
As a result of these announcements, the company's shares have moved -1.58% on the market, and are now trading at a price of $13.05. For the full picture, make sure to review Paramount Global's 8-K report.
