SEC Form 4 · accession 0001633917-16-000195
PayPal Holdings, Inc. · PYPL
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Stock | Jul 17, 2016 | M | 3,811 | $0.00 | A | 171,651 | D | |
| Common StockF1 | Jul 17, 2016 | F | 1,988 | $39.09 | D | 169,663 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted Stock Units -4F2,F3,F4 | — | Jul 17, 2016 | M | 3,811 | D | — | — | Common Stock | 3,811 | 11,432 | D |
| Non-Qualified Stock Option (right to buy)F5 | $31.56 | holding | — | — | — | — | Oct 15, 2021 | Common Stock | 161,764 | 161,764 | D |
| Non-Qualified Stock Option (right to buy)F6 | $35.88 | holding | — | — | — | — | Apr 1, 2022 | Common Stock | 145,234 | 145,234 | D |
| Non-Qualified Stock Option (right to buy)F7 | $41.64 | holding | — | — | — | — | Jul 17, 2022 | Common Stock | 30,485 | 30,485 | D |
| Restricted Stock Units -1F2,F8,F4 | — | holding | — | — | — | — | — | Common Stock | 101,103 | 101,103 | D |
| Restricted Stock Units -3F2,F9,F4 | — | holding | — | — | — | — | — | Common Stock | 54,463 | 54,463 | D |
| Restricted Stock Units -5F2,F10,F4 | — | holding | — | — | — | — | — | Common Stock | 163,667 | 163,667 | D |
Explanation of responses
- F1Represents shares reacquired to satisfy tax withholding obligations in connection with the vesting of 3,811 shares of restricted stock granted to the Reporting Person on 07/17/15.
- F10The 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.
- F2Each restricted stock unit represents a contingent right to receive one share of PayPal's common stock.
- F3The reporting person received restricted stock units subject to a four-yer vesting schedule, vesting 25% on 07/17/16 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.
- F4Not applicable.
- F5The option grant is subject to a four-year vesting schedule, vesting 25% on 9/30/15 and 1/48th per month thereafter.
- F6The option grant is subject to a four-year vesting schedule, vesting 12.5% on 10/1/15 and 1/48th per month thereafter.
- F7The option grant is subject to a four-year vesting schedule, vesting 12.5% on 01/17/16 and 1/48th per month thereafter.
- F8The reporting person received restricted stock units subject to a four-year vesting schedule, vesting 25% on 10/15/15 and 25% each 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.
- F9The reporting person received restricted stock units subject to a four-year vesting schedule, vesting 25% on 4/1/16 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.
Remarks
The Non-Qualified Stock Option grant with a price of $41.64 and expiring on July 17, 2022 and the Restricted Stock Unit - 4 award above were Equity Awards (the "Equity Awards") granted to the reporting person immediately prior to the spinoff of PayPal Holdings, Inc. ("PayPal") from eBay Inc. ("eBay") on July 17, 2015. They were converted into Equity Awards in PayPal in accordance with the terms of the Employee Matters Agreement with eBay. The Equity Awards were previously disclosed and reported on an eBay exit Form 4 in July 2015 for the reporting person and for consistency with the reporting person's PayPal equity awards, the Equity Awards are now being reported on this current Form 4.