psky-20260626

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 11-K

(Mark One)


x			Annual Report Pursuant to Section 15(d) of the Securities Exchange Act of 1934


			For the fiscal year ended December 31, 2025


o			Transition Report Pursuant to Section 15(d) of the Securities Exchange Act of 1934


Commission file number 001-09553


PARAMOUNT GLOBAL 401(k) PLAN

(Full title of the plan)


PARAMOUNT SKYDANCE CORPORATION

(Name of issuer of the securities held pursuant to the plan)


1515 Broadway
New York, New York 10036

(Address of principal executive office)

PARAMOUNT GLOBAL 401(k) PLAN

FINANCIAL STATEMENTS AND SUPPLEMENTAL SCHEDULES

DECEMBER 31, 2025 AND 2024

INDEX


		Page
Report of Independent Registered Public Accounting Firm		1

Financial Statements:
	Statements of Net Assets Available for Benefits at December 31, 202 5 and 2024	2

	Statement of Changes in Net Assets Available for Benefits for the Year Ended December 31, 2025	3

	Notes to Financial Statements	4

		Schedules
Supplemental Schedules:
	Schedule H, line 4a - Schedule of Delinquent Participant Contributions	S - 1

	Schedule H, line 4i - Schedule of Assets (Held at End of Year)	S - 2

All other schedules required by the Department of Labor’s Rules and Regulations for Reporting and
	Disclosure under the Employee Retirement Income Security Act of 1974 are omitted as not
	applicable or not required.

Signature

Exhibit:
	23.1 Consent of Independent Registered Public Accounting Firm

Report of Independent Registered Public Accounting Firm

To the Paramount Global Administrative Committee and Plan Participants of Paramount Global 401(k) Plan

Opinion on the Financial Statements

We have audited the accompanying statements of net assets available for benefits of Paramount Global 401(k) Plan (the “Plan”) as of December 31, 2025, and December 31, 2024, and the related statement of changes in net assets available for benefits for the year ended December 31, 2025, including the related notes (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the net assets available for benefits of the Plan as of December 31, 2025 and 2024, and the changes in net assets available for benefits for the year ended December 31, 2025 in conformity with accounting principles generally accepted in the United States of America.

Basis for Opinion

These financial statements are the responsibility of the Plan’s management. Our responsibility is to express an opinion on the Plan’s financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Plan in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits of these financial statements in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.

Supplemental Information

The supplemental Schedule H, Line 4a- Delinquent Participant Contributions for the year ended December 31, 2025 and Schedule H, Line 4i- Schedule of Assets (Held at End of Year) as of December 31, 2025 have been subjected to audit procedures performed in conjunction with the audit of the Plan’s financial statements. The supplemental schedules are the responsibility of the Plan’s management. Our audit procedures included determining whether the supplemental schedules reconcile to the financial statements or the underlying accounting and other records, as applicable, and performing procedures to test the completeness and accuracy of the information presented in the supplemental schedules. In forming our opinion on the supplemental schedules, we evaluated whether the supplemental schedules, including their form and content, are presented in conformity with the Department of Labor’s Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. In our opinion, the supplemental schedules are fairly stated, in all material respects, in relation to the financial statements as a whole.

/s/ PricewaterhouseCoopers LLP

New York, New York

June 26, 2026

We have served as the Plan’s auditor since at least 1996. We have not been able to determine the specific year we began serving as auditor of the Plan.

PARAMOUNT GLOBAL 401(k) PLAN

STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS

(In thousands)


	At December 31,
	2025		2024
Assets
Investments, at fair value	$	6,091,456	$	5,598,012
Synthetic guaranteed investment contracts, at contract value	615,938		679,811
Receivables:
Notes receivable from participants	34,188		37,529

Employer contributions	34,172		41,827
Interest and dividends	2,350		2,549
Due from broker for securities sold	956		1,426
Total assets	6,779,060		6,361,154
Liabilities
Accrued expenses	2,325		1,784
Due to broker for securities purchased	3,094		4,280
Total liabilities	5,419		6,064
Net assets available for benefits	$	6,773,641	$	6,355,090

The accompanying notes are an integral part of these financial statements.

PARAMOUNT GLOBAL 401(k) PLAN

STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS

(In thousands)


	Year Ended
	December 31, 2025
Additions to net assets attributed to:
Investment income:
Net appreciation in fair value of investments	$	918,012
Interest	17,797
Dividends	4,351
Interest income on notes receivable from participants	2,743
Contributions:
Employee	173,438
Employer	116,911
Rollover	16,157
Total additions	1,249,409
Deductions from net assets attributed to:


Benefits paid to participants	(827,909)
Plan expenses	(2,949)
Total deductions	(830,858)
Net increase	418,551
Net assets available for benefits, beginning of year	6,355,090

Net assets available for benefits, end of year	$	6,773,641

The accompanying notes are an integral part of these financial statements.

PARAMOUNT GLOBAL 401(k) PLAN

NOTES TO FINANCIAL STATEMENTS

(Tabular dollars in thousands)

NOTE 1 - PLAN DESCRIPTION

The following is a brief description of the Paramount Global 401(k) Plan (the “Plan”) and is provided for general information only. Participants should refer to the Plan document, as amended, for more complete information regarding the Plan.

The Plan, sponsored by Paramount Global (the “Company”), is a defined contribution plan offered to substantially all of the Company’s U.S. based employees who are employed by the Company or any of its participating subsidiaries and affiliates and paid through a Company payroll system. On August 7, 2025, pursuant to a transaction agreement (the “Transaction Agreement”) dated as of July 7, 2024, Paramount Global and Skydance Media, LLC became wholly-owned subsidiaries of Paramount Skydance Corporation (the “Skydance Transaction”).

Eligible full-time, newly hired employees may enroll in the Plan immediately or are automatically enrolled following 60 days after hire or rehire and attainment of age 21, unless they elect not to participate. Part-time employees are automatically enrolled in the Plan on the first day of the month following the attainment of age 21 and completion of 1,000 hours of service within a consecutive twelve-month period, (or if earlier, upon satisfying the special service requirement for certain long-term part-time employees), unless they already voluntarily enrolled upon meeting the age and service requirements or have elected not to participate. The Plan is subject to the provisions of the Internal Revenue Code of 1986, as amended (the “Code”), and the Employee Retirement Income Security Act of 1974, as amended (“ERISA”). The Plan is overseen by the Paramount Global Administrative Committee (the “Administrative Committee”). The Administrative Committee has been designated as the administrator of the Plan as defined under ERISA (the “Plan Administrator”) under the Plan document.

Exempt Party-in-Interest Transactions

Prior to the Skydance Transaction, certain Plan investments were shares of Paramount Global Class A Common Stock and Paramount Global Class B Common Stock and, following the Skydance Transaction, certain Plan investments are shares of Paramount Skydance Corporation Class B Common Stock, and therefore qualified (or qualify) as party-in-interest transactions. The fair value of these investments was $57 million and $51 million at December 31, 2025 and 2024, respectively. In connection with the Skydance Transaction, the Plan’s shares of Paramount Global Class A Common Stock and Paramount Global Class B Common Stock were exchanged for shares of Paramount Skydance Corporation Class B Common Stock or cash in accordance with the Transaction Agreement and participant elections. For the year ended December 31, 2025, these investments appreciated by $15 million and earned dividends of $0.9 million. During the year ended December 31, 2025, the Plan sold shares of these investments for total proceeds of $79 million and purchased shares of these investments at a cost of $70 million. Total proceeds includes $3 million of cash received from participant elections in accordance with the Transaction Agreement, which was contributed to the stable value fund. All shares of Paramount Global Class A Common Stock and Paramount Global Class B Common Stock were delisted from Nasdaq and were cancelled and ceased to exist as of August 7, 2025.

Fidelity Management Trust Company (the “Trustee”) is the trustee and custodian of the Plan, Fidelity Workplace Services LLC (the “Recordkeeper”) is the recordkeeper of the Plan, and State Street Global Advisors Trust Company (“State Street”) is an independent fiduciary for the Plan’s Paramount Skydance Corporation Class B stock fund. Certain Plan investments are managed or issued by the Trustee, State Street or their affiliates and therefore qualify as party-in-interest transactions. The fair value of these investments was $48 million and $53 million at December 31, 2025 and 2024, respectively. The Plan’s investments also included a synthetic guaranteed investment contract issued by State Street which expired in 2025. The contract value of this synthetic guaranteed investment contract was $60 million at December 31, 2024.

PARAMOUNT GLOBAL 401(k) PLAN

NOTES TO FINANCIAL STATEMENTS (Continued)

(Tabular dollars in thousands)

Participant Accounts

Each Plan participant’s account is credited with the participant’s contributions, the employer contributions, if applicable, and the participant’s share of the interest, dividends, and any realized or unrealized gains or losses of the Plan’s assets, net of certain Plan expenses. Plan accounts may also be debited for certain other expenses.

Participants have the option of investing contributions to their accounts and their existing account balances among various investment options. These investment options include common collective funds, registered investment companies (mutual funds), proprietary funds that consist of common collective funds and/or separately managed accounts, which primarily invest in common stocks, a stable value fund that consists of synthetic guaranteed investment contracts, and the Paramount Skydance Corporation Class B Stock Fund.

Within the Plan, the Paramount Skydance Corporation Class B Stock Fund is part of an Employee Stock Ownership Plan (“ESOP”). As a result, the Plan offers an ESOP dividend election under which Plan participants can elect to reinvest any ESOP dividends paid on vested shares in the Paramount Skydance Corporation Class B Stock Fund or to receive dividends as a cash payout. If a participant does not make an election, the dividends are reinvested in the Paramount Skydance Corporation Class B Stock Fund.

Participants may also elect to open a self-directed brokerage account (“SDA”). Participants may not contribute directly to the SDA, but may transfer balances to the SDA from other investment funds except the Stable Value Fund. A participant may transfer up to 25% of their account balance (net of loans) to the SDA. The initial transfer to the SDA may not be less than $2,500 and there is no minimum for subsequent individual transfers.

Contributions

The Plan permits participants to contribute up to 50% of eligible annual compensation on a traditional before-tax, Roth 401(k) after-tax, or combination basis and up to 15% of eligible annual compensation on a traditional after-tax basis, subject to the Code limitations set forth below. Total combined contributions for all participants may not exceed 50% of eligible annual compensation. Roth 401(k) contributions and the related earnings can be withdrawn tax-free if certain requirements are met.

The Plan provides (1) nondiscretionary employer matching contributions and (2) discretionary profit-sharing contributions. The formula for the nondiscretionary matching contributions is (a) 100% of a participant’s deferrals on the first 1% of the participant’s eligible compensation, plus (b) 80% of a participant’s deferrals on the next 5% of the participant’s eligible compensation. Any discretionary profit sharing contributions are contributed for those eligible participants who are active employees eligible for the Plan on December 31. For 2025, a discretionary profit-sharing contribution of 1.25% was made in April 2026 and is therefore included in employer contributions receivable on the Statement of Net Assets Available for Benefits.

Participants may elect to invest their contributions in any investment option, including the Paramount Skydance Corporation Class B Stock Fund. If no option is elected by the participant, the contribution is invested in the Plan’s Qualified Default Investment Alternative (“QDIA”), a common collective fund that is primarily invested in a mix of equities and bonds appropriate for the participant’s target retirement year, which is assumed to be at age 65.

Effective on the 60th day following the date upon which an employee becomes eligible to participate in the Plan, employees are deemed to have authorized the Company to make before-tax contributions to the Plan in an amount equal to 6% of the employee’s eligible compensation. However, a deemed authorization does not take effect if, during the 60-day period, the employee elects not to participate in the Plan or to participate at a different contribution rate.

PARAMOUNT GLOBAL 401(k) PLAN

NOTES TO FINANCIAL STATEMENTS (Continued)

(Tabular dollars in thousands)

The Code limits the amount of annual participant contributions that can be made on a before-tax or Roth 401(k) basis to $23,500 for 2025. Total compensation considered under the Plan, based on Code limits, could not exceed $350,000 for 2025. The Code also limits annual aggregate participant and employer contributions to the lesser of $70,000 or 100% of compensation in 2025. All contributions made to the Plan on an annual basis may be further limited due to certain nondiscrimination requirements prescribed by the Code.

All participants who have attained age 50 before the close of the Plan year (calendar year) are eligible to make catch-up contributions. These contributions are not treated as matchable contributions. Catch-up contributions can be made if the eligible participant makes the maximum $23,500 contribution permitted for the Plan year. The limit for catch-up contributions was $7,500 in 2025.

Vesting

Participants in the Plan are immediately vested in their own contributions and earnings thereon. The Plan includes a two-year cliff vesting schedule for employer matching contributions and profit-sharing contributions (collectively “employer contributions”).

Forfeitures

If a participant’s employment terminates prior to being fully vested in their employer contributions, the non-vested portion of their account is forfeited and may be used for future employer contributions and, to the extent not used or designated for such contributions, to pay administrative expenses. Forfeitures are recorded at the time vested benefits are distributed or as of the close of the fifth consecutive year of break in service if no distribution was elected. During 2025, the Plan utilized forfeitures of approximately $0.4 million to pay administrative expenses and $3.6 million to fund employer contributions. As of December 31, 2025 and 2024, the Plan had forfeitures of approximately $5.1 million and $4.5 million, respectively, available to be used as noted above.

Notes Receivable from Participants

Eligible participants may request a loan for up to the lesser of 50% of the participant’s vested account balance or $50,000, reduced by the highest outstanding balance of any Plan loan made to the participant during the twelve-month period ending on the day before the loan is made. The minimum loan available to a participant is $500. The interest rate on participant loans is one percentage point above the annual prime rate in effect (as published in The Wall Street Journal) on the first day of the calendar month in which the loan is processed. Principal and interest is payable through payroll deductions. Generally, only one loan may be outstanding at any time. Participants may elect repayment periods from 12 to 60 months commencing as soon as administratively possible following the distribution of the loan proceeds to the participant. The Plan allows participants to elect a repayment term of up to 300 months for loans used for the acquisition of a principal residence. Repayments of loan principal and interest are allocated in accordance with the participant’s current investment elections. Loans outstanding at December 31, 2025 carry interest rates ranging from 4.25% to 9.50%.

Distributions and Withdrawals

Earnings on employee contributions (other than Roth contributions) and employer contributions are not subject to income tax until they are distributed or withdrawn from the Plan, although earnings on Roth contributions are taxable upon distribution if the requirements for a tax-free distribution are not met.

Participants in the Plan, or their beneficiaries, may receive their vested account balances in a lump sum, in installments over a period of up to 20 years, or in partial distributions of the account balance in the event of retirement, termination of employment, disability or death. For vested account balances invested in the Paramount Skydance Corporation Class B Stock Fund, participants may elect to receive distributions in cash or whole shares.

PARAMOUNT GLOBAL 401(k) PLAN

NOTES TO FINANCIAL STATEMENTS (Continued)

(Tabular dollars in thousands)

In general, participants must receive a required minimum distribution (“RMD”) upon attainment of a certain age, unless they are still employed. For individuals who attain age 70 ½ on or after January 1, 2020, in accordance with the Setting Every Community Up for Retirement Enhancement Act of 2019 (the “SECURE Act”), the RMD age is 72. For individuals attaining age 70 ½ on or after January 1, 2023, in accordance with the SECURE Act 2.0, the RMD age is 73.

Participants in the Plan may withdraw part or all of their after-tax and rollover contributions and the vested portion of employer matching contributions. Upon attainment of age 59 ½, participants may also withdraw all or part of their before-tax or Roth 401(k) contributions and earnings thereon. The Plan limits participants to two of the above withdrawal elections in each Plan year.

A participant may obtain a financial hardship withdrawal of the vested portion of employer matching contributions, employer discretionary profit sharing contributions and employee before-tax or Roth 401(k) contributions provided that the requirements for hardship are met and only to the extent required to relieve such financial hardship. There is no restriction on the number of hardship withdrawals permitted.

When a participant terminates employment with the Company, the full value of employee contributions and earnings thereon plus the value of all vested employer contributions and earnings thereon are eligible for distribution and can be rolled over to a tax qualified retirement plan or an Individual Retirement Account (“IRA”) or remain in the Plan rather than being distributed, subject to the minimum distribution requirement. If the vested account balance is $1,000 or less and the participant does not make an election to rollover the vested account balance, it will be automatically paid in a single lump sum cash payment, and taxes will be withheld from the distribution.

Plan Expenses

Trustee fees and fees for investment of Plan assets are charged to the Plan’s investment funds. Certain administrative expenses such as fees for accounting, investment consulting and employee communications may be paid by the Plan using forfeitures or may be paid by the Company. Recordkeeping fees are paid from participant accounts. For 2025, $0.4 million was paid to the Trustee and the Recordkeeper, parties in interest, for services provided during the year.

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of Accounting

The financial statements are prepared in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”).

In accordance with Financial Accounting Standards Board (“FASB”) guidance, investments are reported at fair value, except for fully benefit-responsive investment contracts which are reported at contract value. Contract value was determined to be the relevant measurement for the portion of net assets available for benefits attributable to fully benefit-responsive investment contracts because contract value is the amount participants would receive if they were to initiate permitted transactions under the terms of the Plan. The Statement of Changes in Net Assets Available for Benefits is prepared on a contract value basis with respect to the fully benefit-responsive investment contracts.

Investment Valuation

Short-term money market investments are carried at amortized cost which approximates fair value due to the short-term maturity of these investments. Investments in common stock are reported at fair value based on quoted market

PARAMOUNT GLOBAL 401(k) PLAN

NOTES TO FINANCIAL STATEMENTS (Continued)

(Tabular dollars in thousands)

prices on national security exchanges. Investments in registered investment companies are reported at fair value based on quoted market prices in active markets. The fair value of investments in separately managed accounts is determined by the Trustee based upon the fair value of the underlying securities. The fair values of investments in common collective funds (“CCTs”) are determined using the net asset value per share (“NAV”) provided by the administrator of the fund. The NAV is determined by each fund’s trustee based upon the fair value of the underlying assets owned by the fund, less liabilities, divided by the number of outstanding units. The common collective funds have no restrictions on participant redemptions. The notice period applicable to the Plan in the case of a full redemption varies by fund and ranges from one day to one month. The Plan had no unfunded commitments relating to the common collective funds at December 31, 2025 and 2024. The fair value of fixed income, asset-backed and mortgage-backed securities is determined by independent pricing sources based on quoted market prices, when available, or using valuation models which incorporate certain other observable inputs including recent trading activity for comparable securities and broker quoted prices. Cash and cash equivalents are valued at cost plus accrued interest, which approximates fair value.

The Plan invests in fully benefit-responsive synthetic guaranteed investment contracts through the Stable Value Fund. The value of these contracts represents the aggregate amount of deposits thereto, plus interest at the contract rate, less withdrawals. As part of their investment strategy, the managers of the Stable Value Fund may use derivative financial instruments for various purposes, including managing exposure to sector risk or movements in interest rates, extending the duration of the investment portfolio and as a substitute for cash securities. The derivative instruments typically used are interest rate futures and swaps. Interest rate swaps are recorded at fair value and marked-to-market through the duration of the contract term with an offsetting increase to unrealized appreciation (depreciation). Futures are marked-to-market and settled daily. The daily receipt or payment is recognized as unrealized appreciation (depreciation) until the contract is closed at which time the total fair value of the futures contract is recognized as a realized gain (loss).

Security Transactions and Income Recognition

Purchases and sales of securities are recorded on the trade date. The average cost basis is used to determine gains or losses on security dispositions. Interest income is accrued as earned and dividend income is recorded on the ex-dividend date.

Net appreciation or depreciation in the fair value of investments, included in the Statement of Changes in Net Assets Available for Benefits, consists of the realized gains and losses and the unrealized appreciation and depreciation on those investments presented at fair value.

Contributions

Contributions from Plan participants and nondiscretionary matching contributions from the Company are recorded in the year in which the employee contributions are withheld from compensation.

Notes Receivable from Participants

Notes receivable from participants are measured at their unpaid principal balance plus any accrued but unpaid interest. Delinquent participant loans are reclassified as distributions based upon the terms of the Plan.

Payment of Benefits

Benefit payments are recorded when paid.

PARAMOUNT GLOBAL 401(k) PLAN

NOTES TO FINANCIAL STATEMENTS (Continued)

(Tabular dollars in thousands)

Use of Estimates

The preparation of financial statements in conformity with U.S. GAAP requires the Plan to make estimates and assumptions, such as those regarding the fair value of investments, that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of changes in net assets available for benefits during the reporting period. Actual results could differ from these estimates.

NOTE 3 - RISKS AND UNCERTAINTIES

The Plan provides for various investment options. Investment securities are exposed to various risks such as market, interest rate and credit risk. Market values of investments could decline for several reasons including changes in prevailing markets and interest rates, increases in defaults, and credit rating downgrades. Due to the level of risk associated with certain investment securities and the level of uncertainty related to changes in the value of such securities, it is at least reasonably possible that changes in investment values in the near term could materially affect participants’ account balances and the amounts reported in the Statements of Net Assets Available for Benefits and the related Statement of Changes in Net Assets Available for Benefits.

NOTE 4 - INVESTMENTS AT CONTRACT VALUE

The Plan invests in synthetic guaranteed investment contracts, which provide for the repayment of principal plus interest through benefit-responsive wrapper contracts. A wrapper contract is issued by a third party insurance company, financial institution or bank, and is held in combination with fixed income securities to form a synthetic guaranteed investment contract. The interest crediting rate on synthetic guaranteed investment contracts reflects the yield of the associated fixed income investments, plus the amortization of realized and unrealized gains and losses on those investments, typically over the duration of the investments. Interest crediting rates are reset on a monthly or quarterly basis, and the wrapper contracts provide that adjustments to the interest crediting rate cannot result in a future interest crediting rate that is less than zero. Certain factors can influence the future interest crediting rates, including the level of market interest rates, the amount and timing of participant contributions and withdrawals, and the returns generated by the fixed income investments that are associated with the synthetic guaranteed investment contract.

Certain employer initiated events may limit the ability of the Plan to transact at contract value with the issuer. These events include, but are not limited to, full or partial termination of the Plan, a material adverse change to the provisions of the Plan, an employer election to withdraw from the contract to switch to a different investment provider, an employer’s bankruptcy, layoffs, plant closings, corporate spin-offs, mergers, divestitures or other workforce restructurings, or if the terms of a successor plan do not meet the contract issuer’s underwriting criteria for issuance of a replacement contract with identical terms. The Plan Administrator believes that no events are probable of occurring that may limit the ability of the Plan to transact at contract value.

The contract issuer is permitted to terminate the fully benefit-responsive investment contracts with the Plan and settle at an amount different from contract value in certain events, including loss of the Plan’s qualified status, an uncured material breach of responsibility, or material adverse changes to the provisions of the Plan.

At December 31, 2025 and 2024, the contract value of the Plan’s synthetic guaranteed investment contracts was $616 million and $680 million, respectively.

NOTE 5 - FAIR VALUE MEASUREMENTS

The following tables set forth the Plan’s financial assets measured at fair value on a recurring basis at December 31, 2025 and 2024. See Note 2 for the valuation methodology used to measure the fair value of these investments.

PARAMOUNT GLOBAL 401(k) PLAN

NOTES TO FINANCIAL STATEMENTS (Continued)

(Tabular dollars in thousands)

There have been no changes to the methodologies used to measure the fair value of each asset from December 31, 2024 to December 31, 2025. These assets have been categorized according to the three-level fair value hierarchy established by the FASB, which prioritizes the inputs used in measuring fair value. Level 1 is based on quoted prices for the asset in active markets. Level 2 is based on inputs that are observable other than quoted market prices in Level 1, such as quoted prices for the asset in inactive markets or quoted prices for similar assets. Level 3 is based on unobservable inputs reflecting the Plan’s own assumptions about the assumptions that market participants would use in pricing the asset. The asset’s level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. Valuation techniques maximize the use of relevant observable inputs and minimize the use of unobservable inputs. The Plan has no investments classified within Level 3 of the valuation hierarchy.


At December 31, 2025	Level 1		Level 2		Total
Self-directed accounts (a)	$	77,510	$	10,512	$	88,022
Separately managed accounts:
Sanders Capital (b)	154,482		1,619		156,101
Wellington Management Company (b)	155,234		3,955		159,189
Sustainable Growth Advisors(b)	152,206		4,792		156,998
Dodge & Cox (b)	155,495		983		156,478
Snyder Capital Management (b)	41,339		1,048		42,387
Paramount Skydance Corporation Common Stock Fund (c)	56,513		103		56,616
Registered investment companies (d)	199,521		—		199,521
Money market funds (e)	—		19,929		19,929
Total assets in fair value hierarchy	$	992,300	$	42,941	$	1,035,241
Common collective funds measured at net asset value (f)					5,056,215
Investments, at fair value					$	6,091,456

PARAMOUNT GLOBAL 401(k) PLAN

NOTES TO FINANCIAL STATEMENTS (Continued)

(Tabular dollars in thousands)


At December 31, 2024	Level 1		Level 2		Total
Self-directed accounts (a)	$	67,981	$	9,499	$	77,480
Separately managed accounts:
Sanders Capital (b)	156,513		1,092		157,605
Wellington Management Company (b)	156,091		820		156,911
Sustainable Growth Advisors(b)	153,465		2,932		156,397
Dodge & Cox (b)	161,677		6,203		167,880
Snyder Capital Management (b)	46,636		5,702		52,338
Paramount Global Common Stock Funds (c)	51,168		137		51,305
Registered investment companies (d)	146,201		—		146,201
Money market funds (e)	—		16,183		16,183
Total assets in fair value hierarchy	$	939,732	$	42,568	$	982,300
Common collective funds measured at net asset value (f)					4,615,712
Investments, at fair value					$	5,598,012

(a)Primarily invested in common stock and registered investment companies. Assets categorized as Level 2 reflect investments in money market funds.

(b)Primarily invested in large and small capitalization equities. Assets categorized as Level 2 reflect investments in money market funds.

(c)Assets categorized as Level 2 reflect investments in money market funds.

(d)Primarily invested in equities and U.S. fixed income securities.

(e)Primarily invested in U.S. government securities and U.S. government agency securities.

(f)In accordance with FASB guidance, investments that are measured at fair value using the net asset value per share (or its equivalent) as a practical expedient have not been classified in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the line items presented in the Statement of Net Assets Available for Benefits. At December 31, 2025, 52% of the CCTs were invested passively in U.S. and international equities and U.S. fixed income securities, 44% of the CCTs were invested in passive target date funds and the remaining 4% of the CCTs were invested actively in U.S. small/mid cap and international equities. At December 31, 2024, 54% of the CCTs were invested passively in U.S. and international equities and U.S. fixed income securities, 41% of the CCTs were invested in passive target date funds and the remaining 5% of the CCTs were invested actively in U.S. small/mid cap and international equities.

NOTE 6 - INCOME TAX STATUS

The Internal Revenue Service (“IRS”) issued a favorable determination letter dated January 13, 2015, indicating that the Plan document satisfied the requirements of Section 401(a) of the Code and that the trust thereunder is exempt from federal income taxes under the provisions of Section 501(a) of the Code. The Plan Administrator believes that, although the Plan has been amended subsequent to the date of the IRS determination, it is designed and is currently being operated in compliance with the applicable provisions of the Code.

As of December 31, 2025, there are no uncertain tax positions taken or expected to be taken that require recognition of an asset or liability or disclosure in the financial statements. The Plan is subject to routine audits by taxing jurisdictions; however, there are no audits in progress for any tax year.

NOTE 7 - TERMINATION PRIORITIES

The Company has reserved the right by action of the Paramount Skydance Corporation Board of Directors or Administrative Committee to amend or terminate the Plan provided that such action does not retroactively reduce earned participant benefits. In the event of termination of the Plan, participants become fully vested.

PARAMOUNT GLOBAL 401(k) PLAN

NOTES TO FINANCIAL STATEMENTS (Continued)

(Tabular dollars in thousands)

NOTE 8 - RECONCILIATION OF FINANCIAL STATEMENTS TO FORM 5500

The following is a reconciliation of net assets available for benefits per the financial statements to the Form 5500:


	At December 31,
	2025		2024
Net assets available for benefits per the financial statements	$	6,773,641	$	6,355,090

Participant loans deemed distributed	(1,717)		(1,665)
Net assets available for benefits per the Form 5500	$	6,771,924	$	6,353,425

The following is a reconciliation of the net increase in net assets available for benefits as reflected in the financial statements to the Form 5500:


	Year Ended December 31, 2025
Net increase in net assets available for benefits per the financial statements	$	418,551

Participant loans deemed distributed at December 31, 2025	(1,717)
Participant loans deemed distributed at December 31, 2024	1,665

Net increase in net assets available for benefits per the Form 5500	$	418,499

NOTE 9 - SUBSEQUENT EVENTS

Subsequent events and transactions have been evaluated through the date the financial statements were issued, and are incorporated herein as applicable.

SCHEDULE H, line 4a

PARAMOUNT GLOBAL 401(k) PLAN

SCHEDULE OF DELINQUENT PARTICIPANT CONTRIBUTIONS

As of and for the year ended December 31, 2025

(Dollars in thousands)


Participant Contributions Transferred late to Plan		Total That Constitute Nonexempt Prohibited Transactions						Total Fully Corrected Under Voluntary
Check Here If Late Participant Loan								Fiduciary Correction Program (VFCP) and
Repayments Are Included ☐		Contributions Not Corrected		Contributions Corrected Outside VFCP		Contributions Pending Correction in VFCP		Prohibited Transaction Exemption 2002-51
$	8	$	—	$	—	$	8	$	—

S - 1

SCHEDULE H, line 4i

PARAMOUNT GLOBAL 401(k) PLAN

SCHEDULE OF ASSETS (HELD AT END OF YEAR)

December 31, 2025

(Dollars in thousands)

Identity of issue, borrower, lessor or similar party

Description of investment including maturity date, rate of interest, collateral, par, or maturity value

Cost (4)

Current Value

Self-Directed Accounts (1)

88,022

Corporate Common Stock Funds

Paramount Skydance Corporation Class B Stock Fund

4,233,283 Shares

56,513

Fidelity Institutional Money Market Government Portfolio

Money Market Fund

103

Total Corporate Common Stock Funds

56,616

Registered Investment Companies

Vanguard FTSE Social Index Fund

Passively Managed Fund

145,513

Baird Core Plus Bond Inst

Actively Managed Fund

54,008

Fidelity Institutional Money Market Government Portfolio

Money Market Fund

19,929

Total Registered Investment Companies

219,450

Common / Collective Funds

BlackRock S&P 500 Index Fund

Passively Managed Fund

1,613,758

BlackRock Extended Equity Market Fund

Passively Managed Fund

326,968

BlackRock - US Bond Index Fund

Passively Managed Fund

332,241

Vanguard Institutional Total International Stock Market Index Trust

Passively Managed Fund

374,530

BlackRock LifePath Retirement Fund

Target Retirement Date Fund

203,600

BlackRock LifePath 2030 Fund

Target Retirement Date Fund

165,424

BlackRock LifePath 2035 Fund

Target Retirement Date Fund

245,155

BlackRock LifePath 2040 Fund

Target Retirement Date Fund

360,645

BlackRock LifePath 2045 Fund

Target Retirement Date Fund

378,793

BlackRock LifePath 2050 Fund

Target Retirement Date Fund

395,053

BlackRock LifePath 2055 Fund

Target Retirement Date Fund

274,675

BlackRock LifePath 2060 Fund

Target Retirement Date Fund

141,749

BlackRock LifePath 2065 Fund

Target Retirement Date Fund

32,445

Wasatch Core Growth CIT Class A

Small Cap US Equity Fund

48,960

Cramer Rosenthal McGlynn Small /Mid Cap Fund

Small Cap US Equity Fund

30,461

Mawer International Equity Collective Fund

International Equity Fund

32,956

GQG Partners International Equity Fund

International Equity Fund

32,896

INVESCO International Growth Fund

International Equity Fund

32,974

Pzena International Value All Country (Ex US) Fund

International Equity Fund

32,932

Total Common Collective Funds

5,056,215

Separately Managed Accounts

Sanders Capital (2)

Large Cap US Equity Fund

154,482

Wellington Management Company (2)

Large Cap US Equity Fund

155,234

Sustainable Growth Advisors (2)

Large Cap US Equity Fund

152,206

Dodge & Cox (1) (2)

Large Cap US Equity Fund

155,495

Snyder Capital Management (2)

Small Cap US Equity Fund

41,339

State Street Bank Government STIF Fund

Short - Term Investment Fund

12,397

Total Separately Managed Accounts

671,153

Synthetic Guaranteed Investment Contracts

Voya: 60548

Evergreen & Rate of Interest 3.11%

53,773

Lincoln National Life Insurance Company: BVW0024G

Evergreen & Rate of Interest 2.67%

180,954

Prudential Insurance Company of America: GA-64465

Evergreen & Rate of Interest 2.91%

155,266

Met Tower Life: 39871

Evergreen & Rate of Interest 2.70%

225,945

Total Synthetic Guaranteed Investment Contracts

615,938

Notes receivable from participants (3)

Interest rates ranging from 4.25% to 9.50%

32,471

Total investments and notes receivable from participants

6,739,865

Identified as a party-in-interest to the Plan.

(1)

Includes $15 million of investments identified as party-in-interest transactions to the Plan.

(2)

Refer to Attachment A for listing of assets relating to these accounts.

(3)

Does not include participant loans deemed distributed.

(4)

There are no non-participant directed investments.

S - 2

Attachment A

(In thousands)

Identity of Issuer

Description

Cost

Current Value

ALPHABET INC CL C

COMMON STOCK

11,399

AMAZON.COM INC

COMMON STOCK

9,016

AMERICAN EXPRESS CO

COMMON STOCK

773

ANALOG DEVICES INC

COMMON STOCK

958

APPLE INC

COMMON STOCK

15,569

ARISTA NETWORKS INC

COMMON STOCK

1,672

ARM HOLDINGS LTD

COMMON STOCK

AXON ENTERPRISE INC

COMMON STOCK

1,328

BROADCOM INC

COMMON STOCK

8,771

CADENCE DESIGN SYSTEMS INC

COMMON STOCK

1,224

CORPAY INC

COMMON STOCK

468

DOORDASH INC

COMMON STOCK

1,921

META PLATFORMS INC CL A

COMMON STOCK

4,808

FASTENAL CO

COMMON STOCK

1,245

FIGMA INC-CL A

COMMON STOCK

393

GE VERNOVA INC

COMMON STOCK

471

GE AEROSPACE

COMMON STOCK

2,727

GOLDMAN SACHS GROUP INC

COMMON STOCK

1,170

HILTON WORLDWIDE HOLDINGS INC

COMMON STOCK

1,351

HOME DEPOT INC

COMMON STOCK

1,469

HUBSPOT INC

COMMON STOCK

800

IDEXX LABS INC

COMMON STOCK

1,345

INTUIT INC

COMMON STOCK

978

INTUITIVE SURGICAL INC

COMMON STOCK

1,548

KKR & CO INC

COMMON STOCK

1,512

ELI LILLY & CO

COMMON STOCK

6,438

MSCI INC

COMMON STOCK

710

MASTERCARD INC CL A

COMMON STOCK

4,449

MICROSOFT CORP

COMMON STOCK

17,512

MONOLITHIC POWER SYS INC

COMMON STOCK

751

NASDAQ INC

COMMON STOCK

1,160

NATERA INC

COMMON STOCK

927

NETFLIX INC

COMMON STOCK

2,660

NVIDIA CORP

COMMON STOCK

21,568

PALANTIR TECHNOLOGIES INC

COMMON STOCK

S&P GLOBAL INC

COMMON STOCK

1,178

SERVICENOW INC

COMMON STOCK

1,120

STRYKER CORP

COMMON STOCK

2,235

TJX COMPANIES INC NEW

COMMON STOCK

885

TAIWAN SEMIC MFG CO LTD SP ADR

COMMON STOCK

1,649

TESLA INC

COMMON STOCK

3,871

THERMO FISHER SCIENTIFIC INC

COMMON STOCK

1,151

TRADEWEB MARKETS INC A

COMMON STOCK

1,166

TRANSUNION

COMMON STOCK

1,081

UBER TECHNOLOGIES INC

COMMON STOCK

1,489

UNITY SOFTWARE INC

COMMON STOCK

1,015

VISA INC CL A

COMMON STOCK

1,112

WELLTOWER INC

COMMON STOCK

2,458

ASML HLDG NV (NY REG SHS) NEW YORK REGISTERED SHAR

COMMON STOCK

1,670

SPOTIFY TECHNOLOGY SA

COMMON STOCK

1,001

SHOPIFY INC CL A

COMMON STOCK

1,035

WASTE CONNECTIONS INC

COMMON STOCK

1,849

NET PAYABLES

(4)

WELLINGTON MANAGEMENT CO

155,234

S - 3

Attachment A

(In thousands)

Identity of Issuer

Description

Cost

Current Value

ADOBE INC

COMMON STOCK

770

AEGON LTD (NY REGD) NEW YORK REGISTERED SHARES

COMMON STOCK

593

AIR PRODUCTS & CHEMICALS INC

COMMON STOCK

2,026

ALNYLAM PHARMACEUTICALS INC

COMMON STOCK

587

ALPHABET INC CL C

COMMON STOCK

2,416

ALPHABET INC CL A

COMMON STOCK

4,257

AMAZON.COM INC

COMMON STOCK

3,647

AMERICAN ELECTRIC POWER CO INC

COMMON STOCK

830

ANHEUSER-BUSCH INBEV SPN ADR

COMMON STOCK

2,081

ARCHER DANIELS MIDLAND CO

COMMON STOCK

862

AVANTOR INC

COMMON STOCK

1,094

BAKER HUGHES CO

COMMON STOCK

1,803

BANK OF NEW YORK MELLON CORP

COMMON STOCK

2,879

BAXTER INTL INC

COMMON STOCK

1,032

BIOMARIN PHARMACEUTICAL INC

COMMON STOCK

850

THE BOOKING HOLDINGS INC

COMMON STOCK

2,490

BRISTOL-MYERS SQUIBB CO

COMMON STOCK

329

CIGNA GROUP (THE)

COMMON STOCK

2,711

CVS HEALTH CORP

COMMON STOCK

4,365

CAPITAL ONE FINANCIAL CORP

COMMON STOCK

2,084

CARRIER GLOBAL CORP

COMMON STOCK

824

CELANESE CORP

COMMON STOCK

600

CHARTER COMMUNICATIONS INC A

COMMON STOCK

2,703

COGNIZANT TECH SOLUTIONS CL A

COMMON STOCK

1,270

COMCAST CORP CL A

COMMON STOCK

3,070

CONOCOPHILLIPS

COMMON STOCK

889

DOMINION ENERGY INC

COMMON STOCK

1,207

ELANCO ANIMAL HEALTH INC

COMMON STOCK

1,650

META PLATFORMS INC CL A

COMMON STOCK

3,069

FEDEX CORP

COMMON STOCK

4,094

FIDELITY NATL INFORM SVCS INC

COMMON STOCK

2,938

FIRST CITIZENS BANCSHARES INC CL A

COMMON STOCK

215

FISERV INC

COMMON STOCK

2,808

FORTIVE CORP

COMMON STOCK

2,584

FOX CORP CL A

COMMON STOCK

460

FOX CORPORATION B

COMMON STOCK

868

GE HEALTHCARE TECHNOLOGIES INC WI

COMMON STOCK

2,264

ARTHUR J GALLAGHAR AND CO

COMMON STOCK

155

GAMING AND LEISURE PROPRTI INC

COMMON STOCK

642

GE AEROSPACE

COMMON STOCK

1,388

GILEAD SCIENCES INC

COMMON STOCK

3,118

GSK PLC SPONS ADR

COMMON STOCK

3,276

GOLDMAN SACHS GROUP INC

COMMON STOCK

1,362

HP INC

COMMON STOCK

781

HALEON PLC SPONS ADR

COMMON STOCK

1,428

HUMANA INC

COMMON STOCK

2,622

IDEX CORPORATION

COMMON STOCK

303

INCYTE CORP

COMMON STOCK

1,175

INTERNATIONAL FLAVORS & FRAGRA

COMMON STOCK

1,661

LPL FINL HLDGS INC

COMMON STOCK

1,286

METLIFE INC

COMMON STOCK

3,971

MICROSOFT CORP

COMMON STOCK

3,772

MICROCHIP TECHNOLOGY

COMMON STOCK

338

MOLSON COORS BEVERAGE CO B

COMMON STOCK

887

NEUROCRINE BIOSCIENCES INC

COMMON STOCK

780

NEWS CORP NEW CL A

COMMON STOCK

337

NORFOLK SOUTHERN CORP

COMMON STOCK

3,089

NOVARTIS AG SPON ADR

COMMON STOCK

1,268

OCCIDENTAL PETROLEUM CORP

COMMON STOCK

3,036

RALLIANT CORP

COMMON STOCK

484

RTX CORP

COMMON STOCK

6,584

REGENERON PHARMACEUTICALS INC

COMMON STOCK

3,068

ROCHE HOLDING LTD SPON ADR

COMMON STOCK

1,124

SBA COMMUNICATIONS CORP

COMMON STOCK

1,973

SANOFI SPON ADR

COMMON STOCK

2,690

SCHWAB CHARLES CORP

COMMON STOCK

6,864

SUN COMMUNITIES INC - REIT

COMMON STOCK

1,812

T-MOBILE US INC

COMMON STOCK

1,239

TELEDYNE TECHNOLOGIES INC

COMMON STOCK

894

TRANSUNION

COMMON STOCK

755

UNITEDHEALTH GROUP INC

COMMON STOCK

2,707

VF CORP

COMMON STOCK

665

WELLS FARGO & CO

COMMON STOCK

2,824

ZIMMER BIOMET HLDGS INC

COMMON STOCK

1,911

LYONDELLBASELL INDS CLASS A

COMMON STOCK

641

WILLIS TOWERS WATSON PLC

COMMON STOCK

1,450

AON PLC

COMMON STOCK

1,694

BROOKFIELD CORP CL A

COMMON STOCK

1,216

TE CONNECTIVITY PLC

COMMON STOCK

2,457

MEDTRONIC PLC

COMMON STOCK

745

JOHNSON CONTROLS INTERNATIONAL PLC

COMMON STOCK

5,215

STATE STREET CORP

COMMON STOCK

593

NET PAYABLES

(4)

DODGE & COX

155,495

S - 4

* Identified as a party-in-interest to the Plan.

Attachment A

(In thousands)

Identity of Issuer

Description

Cost

Current Value

ABBOTT LABORATORIES

COMMON STOCK

1,658

ABBVIE INC

COMMON STOCK

1,794

ALPHABET INC CL C

COMMON STOCK

11,858

AMAZON.COM INC

COMMON STOCK

5,968

ELEVANCE HEALTH INC

COMMON STOCK

3,414

APPLE INC

COMMON STOCK

5,498

APPLIED MATERIALS INC

COMMON STOCK

3,007

ASTRAZENECA PLC SPONS ADR

COMMON STOCK

1,635

BNPSA

COMMON STOCK

1,331

BANK OF AMERICA CORPORATION

COMMON STOCK

5,070

THE BOOKING HOLDINGS INC

COMMON STOCK

2,785

CIGNA GROUP (THE)

COMMON STOCK

4,054

CME GROUP INC CL A

COMMON STOCK

1,535

DELTA AIR INC

COMMON STOCK

3,110

ESSILORLUXOTTICA ADR

COMMON STOCK

494

META PLATFORMS INC CL A

COMMON STOCK

8,968

FISERV INC

COMMON STOCK

284

GENERAL DYNAMICS CORPORATION

COMMON STOCK

3,273

HCA HEALTHCARE INC

COMMON STOCK

8,413

ING GROEP NV SPON ADR

COMMON STOCK

1,601

JPMORGAN CHASE & CO

COMMON STOCK

4,032

LOCKHEED MARTIN CORP

COMMON STOCK

1,123

MASTERCARD INC CL A

COMMON STOCK

1,673

MICROSOFT CORP

COMMON STOCK

9,426

NATWEST GROUP PLC SPON ADR

COMMON STOCK

1,459

NESTLE SA REG ADR

COMMON STOCK

1,247

NORTHROP GRUMMAN CORP

COMMON STOCK

3,974

PEPSICO INC

COMMON STOCK

2,208

PROCTER & GAMBLE CO

COMMON STOCK

2,021

RTX CORP

COMMON STOCK

4,231

ROCHE HOLDING LTD SPON ADR

COMMON STOCK

2,533

State Street SPDR S&P 500 ETF

COMMON STOCK

1,594

SALESFORCE INC

COMMON STOCK

3,290

SIEMENS AG SPON ADR

COMMON STOCK

553

SUMITOMO MITSUI FINL GRP ADR

COMMON STOCK

112

SYNCHRONY FINANCIAL

COMMON STOCK

1,418

TAIWAN SEMIC MFG CO LTD SP ADR

COMMON STOCK

11,967

TRIP.COM GROUP LTD ADR

COMMON STOCK

217

TRUIST FINL CORP

COMMON STOCK

1,785

ULTA BEAUTY INC

COMMON STOCK

980

UNILEVER PLC SPONS ADR

COMMON STOCK

1,689

UNITED AIRLINES HOLDINGS INC

COMMON STOCK

2,336

UNITEDHEALTH GROUP INC

COMMON STOCK

3,094

VISA INC CL A

COMMON STOCK

1,904

ACCENTURE PLC CL A

COMMON STOCK

3,062

SEAGATE TECHNOLOGY HOLDINGS PLC

COMMON STOCK

10,808

NET PAYABLES

(4)

SANDERS CAPITAL

154,482

S - 5

Attachment A

(In thousands)

Identity of Issuer

Description

Cost

Current Value

ALPHABET INC CL C

COMMON STOCK

6,713

AMAZON.COM INC

COMMON STOCK

11,574

AMERICAN EXPRESS CO

COMMON STOCK

3,843

APPLE INC

COMMON STOCK

5,435

ARM HOLDINGS LTD

COMMON STOCK

3,017

BROADCOM INC

COMMON STOCK

2,275

CHIPOTLE MEXICAN GRILL INC

COMMON STOCK

4,478

COOPER COMPANIES INC

COMMON STOCK

4,529

DANAHER CORP

COMMON STOCK

3,334

ECOLAB INC

COMMON STOCK

2,855

META PLATFORMS INC CL A

COMMON STOCK

6,036

GARTNER INC

COMMON STOCK

3,334

WW GRAINGER INC

COMMON STOCK

4,002

INTUIT INC

COMMON STOCK

6,386

MICROSOFT CORP

COMMON STOCK

11,270

NETFLIX INC

COMMON STOCK

3,030

NIKE INC CL B

COMMON STOCK

2,966

NVIDIA CORP

COMMON STOCK

11,914

S&P GLOBAL INC

COMMON STOCK

5,462

SALESFORCE INC

COMMON STOCK

6,027

SERVICENOW INC

COMMON STOCK

2,721

SYNOPSYS INC

COMMON STOCK

5,428

UNITEDHEALTH GROUP INC

COMMON STOCK

5,317

VISA INC CL A

COMMON STOCK

7,060

WASTE MANAGEMENT INC

COMMON STOCK

6,913

YUM BRANDS INC

COMMON STOCK

6,185

AON PLC

COMMON STOCK

4,488

CANADIAN PACIFIC KANSAS CITY LTD

COMMON STOCK

5,618

NET PAYABLES

(4)

SUSTAINABLE GROWTH ADVISORS

152,206

S - 6

Attachment A

(In thousands)

Identity of Issuer

Description

Cost

Current Value

API GROUP CORP

COMMON STOCK

1,758

ADVANCED ENERGY INDUSTRIES INC

COMMON STOCK

1,323

AGILYSYS INC

COMMON STOCK

592

BWX TECHNOLOGIES INC

COMMON STOCK

1,647

BRINKS CO

COMMON STOCK

739

BRIXMOR PPTY GROUP INC

COMMON STOCK

884

CCC INTELLIGENT SOLUTIONS HOLD CL A

COMMON STOCK

544

CABOT CORP

COMMON STOCK

758

CACI INTERNATIONAL INC

COMMON STOCK

1,715

CLEAN HARBORS INC

COMMON STOCK

1,905

COHERENT CORP

COMMON STOCK

2,092

COLUMBIA BANKING SYSTEMS INC

COMMON STOCK

374

CAE INC

COMMON STOCK

1,848

CRANE NXT CO

COMMON STOCK

344

DOLBY LABORATORIES INC CL A

COMMON STOCK

1,010

DORMAN PRODUCTS INC

COMMON STOCK

255

ENTEGRIS INC

COMMON STOCK

1,466

GLACIER BANCORP INC

COMMON STOCK

829

GRACO INC

COMMON STOCK

811

HALOZYME THERAPEUTICS INC

COMMON STOCK

1,296

HEICO CORP CL A

COMMON STOCK

235

IDEX CORPORATION

COMMON STOCK

918

INGREDION INC

COMMON STOCK

1,017

KBR INC

COMMON STOCK

1,059

MCGRATH RENTCORP

COMMON STOCK

964

MERCURY SYSTEMS INC

COMMON STOCK

1,068

MINERALS TECHNOLOGIES INC

COMMON STOCK

643

PDF SOLUTIONS INC

COMMON STOCK

534

POWER INTEGRATIONS INC

COMMON STOCK

789

PROSPERITY BANCSHARES INC

COMMON STOCK

910

RLI CORP

COMMON STOCK

478

RBC BEARINGS INC

COMMON STOCK

1,575

SENSIENT TECHNOLOGIES CORP

COMMON STOCK

1,278

SIMPSON MANUFACTURING CO

COMMON STOCK

950

UGI CORP NEW

COMMON STOCK

1,384

UNITED COMMUNITY BANKS GA

COMMON STOCK

1,006

VALVOLINE INC

COMMON STOCK

1,054

VERRA MOBILITY CORP

COMMON STOCK

1,079

WEX INC

COMMON STOCK

434

WOODWARD INC

COMMON STOCK

1,804

NET PAYABLES

(30)

SNYDER CAPITAL MANAGEMENT

41,339

S - 7

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the persons who administer the Plan have duly caused this annual report to be signed on its behalf by the undersigned, hereunto duly authorized.


		PARAMOUNT GLOBAL 401(k) PLAN

Date: June 26, 2026	By:	/s/ Johan Eerenstein
		Johan Eerenstein
		Member of the Administrative Committee

		PARAMOUNT SKYDANCE CORPORATION

	By:	/s/ Katherine Gill-Charest
		Katherine Gill-Charest
		Executive Vice President, Controller and Chief Accounting Officer