As far as I'm aware, a Screenplay is written like your first Quote.
The Second is for Scripts.
And really, you can just write the actions without the quotation marks.
Because the screenplay is composed of just actions, notes and speech.
The speech is made obvious by the name next to it.
Actions don't need anything next to them because it's obviously not speech.
Notes tend to be written in a large chunk.
Edit:
Example;
- The two boys are in a long, dark corridor of a creepy mansion.
The cobwebs dangle a few feet from the high cieling, the old oak doors are left slightly ajar, along the walls of the corridor. A few old felt seats remain in the corridor on the dusty old rug. The cold air runs through the corridor. A clear draft is present, with the wind moving towards the boys, from down the other end of the corridor.
John: This place is giving me the creeps. Perhaps we should leave.
Max: We're not leaving, not yet. We owe it to ourselves to be able to say that we made it through here in one place. No one will talk to us again if we run out now, and we have to prove that this place isn't haunted.
The large oak and chestnut door closes earily behind the boys, catching them off guard.
John jumps backwards and falls over, in a panicked sweat.
Max attempts to pull open the door, but it does not move.
Max: Well, it seems we're definitely staying now.