Paramount Ex-President Jeff Shell’s 2025 Pay Tops $60 Million

Recently departed Paramount president Jeff Shell had a 2025 package worth $60.7 million, according to an SEC filing Friday. Shell compensation was mostly $1.4 million in base salary and $58.7 million in stock awards.

Paramount CEO David Ellison’s comp totaled $63.2 million. Ellison’s Skydance Media acquired control of Paramount last August. His package included the same $1.4 million base pay and $58.7 million in stock awards along with $1.4 million in non-equity incentive compensation and $1.7 million in “other” comp, primarily personal security-related costs.

Shell parted ways with Paramount on April 8 in the wake of a breach of contract and fraud complaint by professional gambler Robert James “RJ” Cipriani against the executive and his wife that was later expanded to include Paramount, Ellison, his father Larry Ellison and a handful of advisors. The suit accused Shell of talking out of school about corporate deals including UFC and Paramount’s proposed merger with WBD.

A report from law firm Gibson Dunn appears to have cleared Shell of violating securities laws, but Paramount said the exec had decided to transition from his role as president to focus on the litigation.

Under a separation agreement with Paramount, Shell will receive cash severance equal to the sum of his salary and target bonus, or about $5 million. That’s in his employment agreement from last August when Skydance and Paramount merged, which set an annual base salary of $3.5 million and a $1.5 million bonus.

Other executive comp details noted in Friday’s SEC filing include Chief Legal Officer Makan Delrahim with a package valued at $63.6 million total; and Chief Strategy and Chief Operating Officer Andrew Brandon-Gordon at $48.5 million.

Delrahim, former Assistant Attorney General for the Department of Justice Antitrust Division during Donald Trump’s first term, has been a key player in Paramount’s pursuit of Warner Bros Discovery. David Ellison has said he expects the WBD merger to close in the third quarter.