SEC Form 4 · accession 0001633917-16-000265
PayPal Holdings, Inc. · PYPL
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
William J Ready
Officer — EVP, COO and Global Head Prod
Period of report
Dec 15, 2016
Accepted (ET)
Dec 19, 2016 · 6:46 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 Stock | Dec 15, 2016 | M | 25,093 | $0.00 | A | 90,244 | D | |
| Common Stock | Dec 15, 2016 | M | 5,340 | $0.00 | A | 95,584 | D | |
| Common StockF1 | Dec 15, 2016 | F | 15,881 | $39.54 | D | 79,703 | 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 -3F2,F3,F4 | — | Dec 15, 2016 | M | 25,093 | D | — | — | Common Stock | 25,093 | 326,210 | D |
| Restricted Stock Units -4F2,F3,F4 | — | Dec 15, 2016 | M | 5,340 | D | — | — | Common Stock | 5,340 | 69,417 | D |
| Non-Qualified Stock Option (right to buy)F5 | $35.88 | holding | — | — | — | — | Apr 1, 2022 | Common Stock | 32,275 | 32,275 | D |
| Restricted Stock Units -5F2,F6,F4 | — | holding | — | — | — | — | — | Common Stock | 12,103 | 12,103 | D |
| Restricted Stock Units -6F2,F7,F4 | — | holding | — | — | — | — | — | Common Stock | 56,654 | 56,654 | D |
Explanation of responses
- F1Represents shares reacquired to satisfy tax withholding obligations in connection with the vesting of 30,433 restricted stock units granted to the Reporting Person on January 15, 2014.
- 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-year vesting schedule, vesting 20% on the second year anniversary date of the restricted stock unit and 3.33% monthly 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 12.5% on the 6 month anniversary of the grant and 1/48th per month thereafter.
- F6The 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.
- F7The reporting person received a restricted stock unit grant subject to a three-year vesting schedule, vesting 33.34% on the one year anniversary date of the restricted stock unit, 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.