SEC Form 4 · accession 0001633917-17-000056
PayPal Holdings, Inc. · PYPL
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Jonathan Auerbach
Officer — EVP, CHF Strategy & Growth OFC
Period of report
Apr 1, 2017
Accepted (ET)
Apr 4, 2017 · 7:02 pm EDT
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 | Apr 1, 2017 | M | 10,492 | $0.00 | A | 46,437 | D | |
| Common StockF1 | Apr 1, 2017 | F | 5,450 | $43.02 | D | 40,987 | 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 | — | Apr 1, 2017 | M | 10,492 | D | — | — | Common Stock | 10,492 | 20,983 | D |
| Non-Qualified Stock Option (right to buy)F5 | $0.00 | holding | — | — | — | — | May 15, 2022 | Common Stock | 81,498 | 81,498 | D |
| Restricted Stock Units -1F2,F6,F4 | — | holding | — | — | — | — | — | Common Stock | 30,562 | 30,562 | D |
| Restricted Stock Units -2F2,F6,F4 | — | holding | — | — | — | — | — | Common Stock | 81,498 | 81,498 | D |
| Restricted Stock Units -4F2,F3,F4 | — | holding | — | — | — | — | — | Common Stock | 36,389 | 36,389 | D |
| Restricted Stock Units -5F2,F7,F4 | — | holding | — | — | — | — | — | Common Stock | 35,316 | 35,316 | D |
Explanation of responses
- F1Represents shares reacquired to satisfy tax withholding obligations in connection with the vesting of 10,492 shares of restricted stock granted to the Reporting Person on 4/1/16.
- F2Each restricted stock unit represents a contingent right to receive one share of PayPal's common stock.
- F3The 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.
- F4Not applicable.
- 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.
- F7The reporting person earned a total of 70,632 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. Amount represents 50% of the shares subject to such restricted stock units vesting on the first anniversary of the date of grant.