SEC Form 4 · accession 0001633917-16-000119
PayPal Holdings, Inc. · PYPL
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
James Barrese
Officer — SVP, Payment Services and CTO
Period of report
Mar 1, 2016
Accepted (ET)
Mar 3, 2016 · 5:55 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001633917
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | Mar 1, 2016 | A | 23,731 | $0.00 | A | 23,815 | D | |
| Common StockF2 | Mar 1, 2016 | F | 4,460 | $39.25 | D | 19,355 | D | |
| Common StockF3 | holding | — | — | — | 13 | I | by Children |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Non-Qualified Stock Option (right to buy)F4 | $22.98 | holding | — | — | — | — | Apr 2, 2019 | Common Stock | 1,971 | 1,971 | D |
| Non-Qualified Stock Option (right to buy)F4 | $34.99 | holding | — | — | — | — | Apr 1, 2020 | Common Stock | 13,538 | 13,538 | D |
| Non-Qualified Stock Option (right to buy)F4 | $35.19 | holding | — | — | — | — | Apr 1, 2021 | Common Stock | 27,918 | 27,918 | D |
| Non-Qualified Stock Option (right to buy)F4 | $35.88 | holding | — | — | — | — | Apr 1, 2022 | Common Stock | 32,275 | 32,275 | D |
| Restricted Stock Units -1F7,F5,F6 | — | holding | — | — | — | — | — | Common Stock | 17,316 | 17,316 | D |
| Restricted Stock Units -2F7,F5,F6 | — | holding | — | — | — | — | — | Common Stock | 5,254 | 5,254 | D |
| Restricted Stock Units -3F7,F5,F6 | — | holding | — | — | — | — | — | Common Stock | 9,025 | 9,025 | D |
| Restricted Stock Units -4F7,F5,F6 | — | holding | — | — | — | — | — | Common Stock | 10,469 | 10,469 | D |
| Restricted Stock Units -5F7,F8,F6 | — | holding | — | — | — | — | — | Common Stock | 99,548 | 99,548 | D |
| Restricted Stock Units -6F7,F5,F6 | — | holding | — | — | — | — | — | Common Stock | 16,138 | 16,138 | D |
Explanation of responses
- F1The reporting person was granted 23,731 shares of common stock as a result of the company's achievement of certain performance criteria for 2014/2015 (the award was originally allocated to the reporting person as performance-based restricted stock units). 50% of the shares vested on the date of grant and the remainder will vest on 3/1/17.
- F2Represents shares reacquired to satisfy tax withholding obligations in connection with the vesting of 11,866 shares of restricted stock granted to the Reporting Person on 3/1/16 (see footnote 1).
- F3Includes 13 shares held by Mr. Barrese's children. Mr. Barrese disclaims beneficial ownership of these shares.
- F4The option grant is subject to a four-year vesting schedule, vesting 12.5% on the 6 month anniversary of the grant and 1/48th per month thereafter.
- F5The reporting person received restricted stock units subject to a four-year vesting schedule, vesting 25% on the one year anniversary date of the restricted stock unit and 25% each year thereafter. Upon vesting, the reporting person will receive a number of shares of common stock equal to the number of restricted stock units that have vested.
- F6Not applicable.
- F7Each restricted stock unit represents a contingent right to receive one share of PayPal's common stock.
- F8The reporting person received a restricted stock unit grant subject to a three-year vesting schedule, vesting 33.34% on the one year anniversary, and 33.33% on the second year anniversary and 33.33% on the third year anniversary. Upon vesting, the reporting person will receive a number of shares of common stock equal to the number of restricted stock units that have vested.