<SEC-DOCUMENT>0001193125-25-205556.txt : 20250917
<SEC-HEADER>0001193125-25-205556.hdr.sgml : 20250917
<ACCEPTANCE-DATETIME>20250917090412
ACCESSION NUMBER:		0001193125-25-205556
CONFORMED SUBMISSION TYPE:	DEFA14A
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20250917
DATE AS OF CHANGE:		20250917

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Paramount Group, Inc.
		CENTRAL INDEX KEY:			0001605607
		STANDARD INDUSTRIAL CLASSIFICATION:	REAL ESTATE INVESTMENT TRUSTS [6798]
		ORGANIZATION NAME:           	05 Real Estate & Construction
		EIN:				320439307
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		DEFA14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-36746
		FILM NUMBER:		251318882

	BUSINESS ADDRESS:	
		STREET 1:		1633 BROADWAY, SUITE 1801
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019
		BUSINESS PHONE:		212-237-3100

	MAIL ADDRESS:	
		STREET 1:		1633 BROADWAY, SUITE 1801
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019
</SEC-HEADER>
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<TYPE>DEFA14A
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<DESCRIPTION>DEFA14A
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<DIV STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</DIV><DIV STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</DIV>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>UNITED STATES </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>SECURITIES AND EXCHANGE COMMISSION </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Washington, D.C. 20549 </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center><DIV STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</DIV></center>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>SCHEDULE 14A </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Proxy
Statement Pursuant to Section&nbsp;14(a) of the </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Securities Exchange Act of 1934 </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center><DIV STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</DIV></center>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Filed by the Registrant&#8194;&#9746; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Filed by a party other
than the Registrant&#8194;&#9744; </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Check the appropriate box: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#9744;</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Preliminary Proxy Statement </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B></B>&#9744;<B></B><B></B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>Confidential, for Use of the Commission Only (as permitted by Rule
<FONT STYLE="white-space:nowrap">14a-6(e)(2))</FONT> </B></P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#9744;</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Definitive Proxy Statement </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#9744;</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Definitive Additional Materials </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Soliciting Material Pursuant to <FONT STYLE="white-space:nowrap">Section&nbsp;240.14a-12</FONT>
</P></TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>PARAMOUNT GROUP, INC. </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(Name of Registrant as Specified In Its Charter) </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Name of Person(s) Filing Proxy Statement, if other than the Registrant) </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Payment of Filing Fee (Check all boxes that apply): </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#9746;</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">No fee required. </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Fee paid previously with preliminary materials. </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Fee computed on table in exhibit required by Item 25(b) per Exchange Act Rules
<FONT STYLE="white-space:nowrap">14a-6(i)(1)</FONT> and <FONT STYLE="white-space:nowrap">0-11.</FONT> </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>The following communication was sent by Paramount Group, Inc. to its employees on September&nbsp;17,
2025. </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Dear Team, </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Today, we announced that Paramount
Group has entered into a merger agreement with Rithm Capital Corp. (&#8220;Rithm&#8221;), a global alternative asset manager. This decision comes as a result of the comprehensive strategic review process the Board initiated in May. After evaluating
numerous proposals, the Board agreed that this transaction provides our shareholders with compelling value for their investment. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">As you might expect,
there are many steps that need to be taken and decisions to be finalized before this transaction closes. We expect to complete the transaction in late Q4 2025. Until the transaction closes, it will continue to be business as usual for all of us at
Paramount Group. We ask that throughout this process you remain focused on your <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">day-to-day</FONT></FONT> responsibilities. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">For those of you not familiar with Rithm, the firm has extensive experience investing in the real estate and financial services sectors. Its integrated
investment platform spans across asset-based finance, lending across residential and commercial real estate, mortgage servicing rights and structured credit. Importantly, Rithm&#8217;s institutional expertise and track record of creating value
aligns well with Paramount Group&#8217;s operational expertise and high-quality asset base. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">We realize that many of you likely have questions about what
this announcement means for you, so we will be hosting a town hall meeting this afternoon at 12:30 p.m., Eastern time. We will share an invitation shortly. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In addition, as we know each employee&#8217;s situation is different, we will be offering breakout sessions for each group within our various departments to
ask any <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">top-of-mind</FONT></FONT> questions or concerns you might have. Those sessions will take place following the town hall. We encourage you to attend. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">It is likely that today&#8217;s news may generate increased interest from members of the media and other third parties. As always, it is important for us to
communicate a consistent message. If you receive any external inquiries, please refer them to Tom Hennessy, Vice President &#8211; Investor Relations and Business Development, at [***] or <FONT STYLE="white-space:nowrap"><FONT
STYLE="white-space:nowrap">212-237-3138.</FONT></FONT> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">On behalf of the Board and management team, thank you for your dedication and focus. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Sincerely, </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">/s/ Albert P. Behler </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Albert P. Behler </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Chairman, Chief Executive Officer and
President </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Additional Information and Where to Find It </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">This communication may be deemed solicitation material in respect of the proposed acquisition of Paramount Group, Inc. (the &#8220;Company&#8221;). The
proposed transaction is expected to be submitted to the stockholders of the Company for their consideration and approval at a special meeting. In connection with the proposed transaction, the Company will file with the Securities and Exchange
Commission (&#8220;SEC&#8221;) a proxy statement on Schedule 14A. Promptly after filing its definitive proxy statement with the SEC, the Company will mail the definitive proxy statement and a proxy card to each stockholder entitled to vote at the
special meeting relating to the proposed transaction. This document is not a substitute for the proxy statement or any other document which the Company may file with the SEC. INVESTORS AND SECURITY HOLDERS OF THE COMPANY ARE URGED TO READ THE PROXY
STATEMENT (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO) AND ANY OTHER RELEVANT DOCUMENTS IN CONNECTION WITH THE PROPOSED TRANSACTION THAT THE COMPANY FILES WITH THE SEC WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION
ABOUT THE PROPOSED TRANSACTION. The definitive proxy statement, the preliminary proxy statement and any other documents filed by the Company with the SEC (when available) may be obtained free of charge at the SEC&#8217;s website at www.sec.gov or on
the &#8220;Investors&#8221; section of our website at <I>www.pgre.com</I>. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Participants in the Solicitation </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Company and its directors and certain of its executive officers may be deemed to be participants in the solicitation of proxies from the Company&#8217;s
stockholders with respect to the proposed transaction. Information about the Company&#8217;s directors and executive officers and their ownership of the Company&#8217;s securities is set forth in the Company&#8217;s proxy statement on Schedule 14A
for its 2025 annual meeting of stockholders, filed with the SEC on April&nbsp;3, 2025, and subsequent documents filed with the SEC. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Additional
information regarding the identity of participants in the solicitation of proxies, and a description of their direct or indirect interests in the proposed transaction, by security holdings or otherwise, will be set forth in the proxy statement and
other materials to be filed with the SEC in connection with the proposed transaction when they become available. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Cautionary Statement Regarding
Forward-Looking Statements </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Certain statements in this release regarding the proposed transaction, including any statements regarding the expected
timetable for completing the proposed transaction, benefits of the proposed transaction, future opportunities for the Company, and any other statements regarding the Company&#8217;s future expectations, beliefs, plans, objectives, financial
conditions, assumptions or future events or performance that are not historical facts are &#8220;forward-looking&#8221; statements made within the meaning of, and subject to the safe harbor created by, the U.S. Private Securities Litigation Reform
Act of 1995. These statements are often, but not always, made through the use of words or phrases such as &#8220;believe,&#8221; &#8220;expect,&#8221; &#8220;anticipate,&#8221; &#8220;should,&#8221; &#8220;planned,&#8221; &#8220;will,&#8221;
&#8220;may,&#8221; &#8220;intend,&#8221; &#8220;estimated,&#8221; &#8220;aim,&#8221; &#8220;on track,&#8221; &#8220;target,&#8221; &#8220;opportunity,&#8221; &#8220;tentative,&#8221; &#8220;positioning,&#8221; &#8220;designed,&#8221;
&#8220;create,&#8221; &#8220;predict,&#8221; &#8220;project,&#8221; &#8220;seek,&#8221; &#8220;would,&#8221; &#8220;could&#8221;, &#8220;potential,&#8221; &#8220;continue,&#8221; &#8220;ongoing,&#8221; &#8220;upside,&#8221; and
&#8220;increases,&#8221; and similar expressions. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">All such forward-looking statements involve estimates and assumptions that are subject to risks,
uncertainties and other factors that could cause actual results to differ materially from the results expressed in the statements. Although the Company believes the expectations reflected in any forward-looking statements are based on reasonable
assumptions, the Company can give no assurance that its expectations will be attained and therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. Some of the factors that
may affect outcomes and results include, but are not limited to: (i)&nbsp;risks associated with the Company&#8217;s ability to obtain the stockholder approval required to consummate the proposed transaction and the timing of the closing of the
proposed </P>
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transaction, including the risks that a condition to closing would not be satisfied within the expected timeframe or at all or that the closing of the proposed transaction would not occur,
(ii)&nbsp;the outcome of any legal proceedings that may be instituted against the parties and others related to the merger agreement, (iii)&nbsp;the risk that stockholder litigation in connection with the proposed transaction may affect the timing
or occurrence of the proposed transaction or result in significant costs of defense, indemnification and liability, (iv)&nbsp;unanticipated difficulties or expenditures relating to the proposed transaction, the response of business partners and
competitors to the announcement of the proposed transaction, potential difficulties with the Company&#8217;s ability to retain and hire key personnel and maintain relationships with tenants and other third parties as a result of the proposed
transaction, and/or potential difficulties in employee retention as a result of the announcement and pendency of the proposed transaction, (v)&nbsp;changes affecting the real estate industry and changes in market and economic conditions, including
tariffs, geopolitical tensions and elevated inflation and interest rates that may adversely impact the Company or its tenants, (vi)&nbsp;trends in the office real estate industry including telecommuting, flexible work schedules, open workplaces and
teleconferencing (vii)&nbsp;increased or unanticipated competition in the real estate market, (viii)&nbsp;the uncertainties of real estate development, acquisition and disposition activity, (ix)&nbsp;maintenance of real estate investment trust
(&#8220;REIT&#8221;) status, (x)&nbsp;fluctuations in interest rates and the costs and availability of financing, (xi)&nbsp;the ability to enter into new leases or renew leases on favorable terms, (xii)&nbsp;dependence on tenants&#8217; financial
condition, and (xiii)&nbsp;those additional risks and factors discussed in reports filed with the SEC by the Company from time to time, including those discussed under the heading &#8220;Risk Factors&#8221; in its most recently filed report on Form <FONT
STYLE="white-space:nowrap">10-K</FONT> for the year ended December&nbsp;31, 2024, filed with the SEC on February&nbsp;27, 2025, as updated by the Company&#8217;s subsequent periodic reports filed with the SEC, including the Company&#8217;s report on
Form <FONT STYLE="white-space:nowrap">10-Q</FONT> for the quarterly period ended June&nbsp;30, 2025, filed with the SEC on July&nbsp;30, 2025. Forward-looking statements speak only as of the date they are made, and the Company undertakes no
obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law. Investors should not place undue reliance upon forward-looking statements. </P>
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