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Paramount Global (NASDAQ:PARA, NASDAQ:PARAA), a prominent player in the media industry with a market capitalization of $15.53 billion and annual revenue of $28.72 billion, reported the results of its 2025 Annual Meeting of Stockholders held July 2. According to InvestingPro analysis, the company’s stock is currently trading near its 52-week high, with shareholders approving all nominated directors and two company-sponsored proposals, according to a statement based on a recent SEC filing.
All seven nominated directors—Mary Boies, Barbara M. Byrne, Linda M. Griego, Charles E. Ryan, Shari E. Redstone, Susan Schuman, and Roanne Sragow Licht—were elected by holders of a majority of the aggregate voting power of Paramount’s Class A Common Stock present at the meeting. For each nominee, votes in favor ranged from approximately 32.6 million to 33.4 million, with votes against ranging from about 148,000 to 948,000. Abstentions for each nominee were around 4.4 million shares. No broker non-votes were recorded for these items.
Shareholders also approved an amendment and restatement of the company’s Amended and Restated Long-Term Incentive Plan, primarily to increase the number of shares of Class B Common Stock authorized for issuance under the plan. The proposal received 37,746,123 votes in favor, 154,266 against, and 23,732 abstentions.
A second company-sponsored proposal to amend and restate the 2015 Equity Plan for Outside Directors, primarily to extend the plan’s term, was also approved. This item received 37,585,586 votes for, 312,081 against, and 26,454 abstentions.
A stockholder proposal requesting that Paramount issue a report detailing the potential risks associated with omitting “viewpoint” and “ideology” from its equal employment opportunity policy did not pass. The proposal received 146,436 votes in favor, 33,354,201 against, and 4,423,484 abstentions.
A total of 37,924,121 shares of Class A Common Stock, representing approximately 93.17% of the Class A shares outstanding on the record date, were represented at the meeting.
This information is based on a statement from Paramount Global as reported in a filing with the Securities and Exchange Commission.
In other recent news, Paramount Global has made significant changes to its credit agreement, as disclosed in a recent 8-K filing with the U.S. Securities and Exchange Commission. The amendment, signed on May 12, 2025, involves an increase in the cap on unrestricted cash and cash equivalents that can be netted against consolidated indebtedness, raising it from $1.5 billion to $3.0 billion. This increase was initially agreed upon in a previous amendment but required a future operative date to take effect. Additionally, the definition of Consolidated EBITDA has been revised to include an add-back for cash items related to restructuring, litigation reserves, and losses on business disposals, capped at 15% of Consolidated EBITDA after adjustment. The credit agreement, originally filed in January 2020, has undergone several amendments over the years, with the most recent ones filed on various dates. Paramount’s financial institutions involved in this amendment have provided customary banking and financial advisory services. The details of the amendment are available in the attached Exhibit 10.1 of the 8-K filing. These developments reflect Paramount Global’s ongoing efforts to manage its financial agreements strategically.
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