Skydance issues 470.7M warrants at $12.00 strike after WBD merger; 401(k) blackout runs to week of Oct 18

Paramount Skydance Corp

Skydance issued 470,746,773 warrants on Oct 13, 2026, one per Class B share held on the Oct 5 record date, each exercisable for one Class B share at $12.00.
Warrant distribution excluded Lawrence J. Ellison, David F. Ellison, Gerald J. Cardinale, the Ellison Revocable Trust, RedBird Capital Fund IV and the Paramount Global 401(k) Plan.
Because ERISA bars the 401(k) Plan from holding warrants, its Class B Common Stock Fund instead receives additional Class B shares under a State Street-approved conversion formula.
Blackout began Oct 5, 2026 at 4:00 p.m. ET and is expected to end the week of Oct 18; participants cannot direct or diversify Fund assets or take loans or withdrawals.
The merger of Warner Bros. Discovery with a Skydance subsidiary closed Oct 6, 2026, with WBD surviving as a wholly owned Skydance subsidiary.

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