Shiv begins shadowing Logan at Waystar while Kendall courts Pierce Global Media CEO Rhea Jarrell on Logan's behalf, and Tom is tasked with vetting ATN anchor Mark Ravenhead over Nazi-sympathizer accusations. A gunshot triggers a building lockdown that sorts the family hierarchy instantly: Logan, Shiv, and Rhea retreat to the secure safe room to reset the deal at twenty-four billion, while Tom and Greg are shoved into a random office where Greg reveals he kept the cruise-line cover-up documents and blackmails Tom for a promotion. Outside, Connor and Willa navigate a board member's funeral and an ambush from Logan's unauthorized biographer, and Roman discovers an unexpected dynamic with Gerri over the phone.

The episode crystallizes how Waystar treats people as deal-currency: Ravenhead is defensible until he's an obstacle to PGM, and the actu ...