secwatch.observer — SEC 8-K summary
======================================

Issuer:     Paramount Skydance Corp (PSKY)
CIK:        0002041610
Form:       8-K
Filed at:   2026-10-15T23:31:28+00:00
Accession:  0001104659-26-116333
Event type: other_material
Sentiment:  neutral
Materiality: 0.40
Item codes: 5.04, 9.01
LLM model:  deepseek-v4.1-flash:cloud@v2

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

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/2041610/000110465926116333/0001104659-26-116333-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/2041610/000110465926116333/tm2626659d15_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-26-116333

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer