SEC Form 4 · accession 0001633917-17-000044
PayPal Holdings, Inc. · PYPL
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
John D Rainey
Officer — EVP, Chief Financial Officer
Period of report
Mar 1, 2017
Accepted (ET)
Mar 3, 2017 · 9:19 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 | holding | — | — | — | 28,831 | 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 -4F1,F2,F3 | — | Mar 1, 2017 | A | 60,647 | A | — | — | Common Stock | 60,647 | 60,647 | D |
| Restricted Stock Units -5F1,F4,F3 | — | Mar 1, 2017 | A | 75,738 | A | — | — | Common Stock | 75,738 | 75,738 | D |
| Non-Qualified Stock Option (right to buy)F5 | $33.80 | holding | — | — | — | — | Sep 15, 2022 | Common Stock | 87,390 | 87,390 | D |
| Restricted Stock Units -1F1,F6,F3 | — | holding | — | — | — | — | — | Common Stock | 32,771 | 32,771 | D |
| Restricted Stock Units -2F1,F6,F3 | — | holding | — | — | — | — | — | Common Stock | 87,389 | 87,389 | D |
| Restricted Stock Units -3F1,F2,F3 | — | holding | — | — | — | — | — | Common Stock | 50,359 | 50,359 | D |
Explanation of responses
- F1Each restricted stock unit represents a contingent right to receive one share of PayPal's common stock.
- F2The 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.
- F3Not applicable.
- F4The reporting person earned a total of 75,738 shares in respect of performance-based restricted stock units (PBRSUs) for the 2015-2016 performance period, which were granted to the reporting person as restricted stock units on 3/1/17. 100% of the shares subject to such restricted stock units will vest on the first anniversary of the date of grant.
- F5Options become exercisable as to 25% on the one year anniversary date of the grant and 1/48th monthly 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.