Paramount Skydance Corp 8-K

What Happened
Paramount Skydance Corporation announced that the Board appointed Dennis Cinelli as Chief Financial Officer effective January 15, 2026. Mr. Cinelli resigned from the Company’s Board and Audit Committee effective January 13, 2026. At the same time the Board appointed Andrew Campion to the Board and the Audit Committee; interim CFO Andrew Warren will transition to Strategic Advisor on the Commencement Date.

Key Details

• Employment term: five-year letter agreement starting January 15, 2026.
• Compensation: base salary of at least $2,625,000 and a target annual bonus of $1,125,000.
• Equity: sign-on award of 3,750,000 restricted stock units (Class B), vesting in equal quarterly installments over five years (approx. 187,500 RSUs/quarter), with full vesting on a defined change in control.
• Cash and benefits: $500,000 one-time signing bonus (repayable if Cinelli leaves before 1 year except for certain company-initiated terminations), up to $500,000 relocation reimbursement, and pro-rated director RSU vesting on the Commencement Date.
• Severance: if terminated without cause or if he leaves for good reason, Cinelli is entitled (subject to release and covenants) to 2x (base salary + target bonus) paid over 24 months (based on the stated amounts this equals about $7.5M), any earned unpaid prior-year bonus, accelerated vesting of RSUs that would have vested over the next 24 months, and up to 24 months of company-subsidized health/dental coverage.
• Director change: Andrew Campion (an Ellison designee) will receive a pro-rated director award of 17,433 RSUs and is eligible for the standard non-employee director program and indemnification agreement.

Why It Matters
This 8-K signals a major, long-term finance leadership change at Paramount Skydance with material compensation and equity grants for the new CFO. The sign-on RSUs and severance protections are significant in size and could affect insider ownership and potential dilution. Investors should note the large equity award (3.75M RSUs) and the potential cash severance exposure (roughly $7.5M based on the stated salary and target bonus), as well as the board composition change with Andrew Campion joining the Audit Committee.