Paramount 401k / Paramount Stock - Tender Vote Deadline Monday 6/28 at 4pm EDT

Apologies as this isn't layoff related.

If you have Paramount Class B shares in your Paramount 401k, according to Friday's filing with the SEC, you have until 4pm New York Time on Monday 6/28 to vote on whether you're tendering your shares or not. SEC Filing: https://ir.paramount.com/static-files/f1d28df8-3300-4dc5-adce-3081b1771b4e

If you vote to tender shares, Skydance will be paying $15/share for at least 48% of the Class B shares you tender, but it may be higher than 48% depending on how many shareholders tender their shares. Any shares not tendered will convert 1-to-1 to the new Paramount Skydance stock which will trade under the ticker PSKY. Email I received about the tender process came back in March, but you can also call Fidelity directly if you have questions.

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18 replies (most recent on top)

PSKY is a meme stock. Star trek spongebob go weeeee

@2n8 you had to mail a paper form back to them

@gx DF King donkey fu---d my election. A long series of incompetent fu-kups. What a surprise!

Tendered some my Para 401k shares online on 5/13 but nothing was posted. I have a screenshot of it. NetBenefits reps couldn't help me. Where to complain?

I just logged into my account and guess what. I got tendered. Never voted.

@dz Perfect. I have a sh-t load of stock.

@OP Well I'm glad I offered to sell my stock. It's $12.40 today and it's only going to keep going down in the short-term. Fingers crossed they buy them all.

@jd the deadlines were announced last week after the fcc confirmed the merger.

I did get something in the mail, and the deadline is based on the deal close date. So how would we have known the deadline when we were just notified of the close date this past Friday?

Does anyone have any faith that DF King will actually handle the paperwork correctly?

You basically had an option to cash out your vested RSU at $15, versus the current market value of $13. If no decision, they will be converted to the new stock (PSKY).

I also never got anything in the mail and nothing could be done over the phone or through the website.

All I can do now is watch the market b-tt f-ck PSKY below $13 (I’m guessing something around $9 if we’re lucky).

Also who comes up with these stupid names, PSKY?! As in pesky?!

Oy…

@dp well it’s all too late for you now. All your stock, vested and unvested will transfer 1:1 to the new company.

So confused, I get stock but not all of its vested. Will the unvested stock transfer as well? Can we get paid out on what’s vested but not vested? I never got any forms in the mail about this but do remember seeing an email months ago. VP level.

@cw Ugh. Friday's SEC filing linked above says deadline is today, so I'd contact the SEC if NetBenefits is saying it's 7/15. https://www.sec.gov/submit-tip-or-complaint

This is some bullsh-t. Netbenfits says the cut off was July 15th.

Can someone explain what this means for the non financially savvy? Is this something we should we doing?

What forms. I don't think I ever got anything.

You have to have the forms mailed back by Monday. So….

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Paramount 401k / Paramount Stock - Tender Vote Deadline Monday 6/28 at 4pm EDT

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