Skydance Corporation

Item 5.04 Temporary Suspension of Trading Under Registrant’s Employee Benefit Plans. On October 15, 2026, in accordance with Section 306 of the Sarbanes-Oxley Act of 2002 and Rule 104 of Regulation BTR as promulgated by the SEC, the Company sent a notice (the “Notice”) to its directors and executive officers informing them of a blackout period for the Fund in connection with the closing of the Merger. The Notice provides information on certain trading prohibitions to which directors and executive officers of the Company are subject during the blackout period. The 401(k) Plan’s blackout period is with respect to Class B Common Stock and is occurring so that the 401(k) Plan receives the correct number of additional shares of Class B Common Stock in the Fund in lieu of the Warrant Distribution. During the 401(k) Plan’s blackout period, participants and beneficiaries in the 401(k) Plan are unable to: (1) direct or diversify the assets held in their account into or out of the Fund; and (2) obtain a loan, withdrawal or distribution from the 401(k) Plan with respect to any portion of the participant’s account invested in the Fund. The Merger closed on October 6, 2026. The blackout period began on October 5, 2026 at 4:00 p.m., New York City time, and is expected to end during the week of October 18, 2026. During the 401(k) Plan’s blackout period and for a period of two years after the end date thereof, a security holder or other interested person may obtain, without charge, information regarding the actual end date of the blackout period from the General Counsel of the Company by mail at 1515 Broadway, New York, New York 10036, or by telephone at (212) 258-6000. A copy of the Notice, which includes the information specified in Rule 104(b) of Regulation BTR, is attached hereto as Exhibit 99.1 and is incorporated herein by reference.