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Preheat the oven to 375˚F and butter a 9×13 baking dish.
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Arrange the shrimp in the baking dish in a single layer. Set aside.
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In a mixing bowl, combine the softened butter, breadcrumbs, sherry, garlic, shallot, parsley, salt, pepper, paprika, and cayenne; mash and mix until thoroughly combined.
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Spoon the breadcrumb mixture over the shrimp.
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Bake for 22 to 25 minutes or until the top is golden brown.
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Remove the shrimp from the oven and let it rest for a couple of minutes.
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Sprinkle with fresh parsley and serve.