SEC Form 4 · accession 0001633917-17-000064
PayPal Holdings, Inc. · PYPL
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
William J Ready
Officer — EVP, Chief Operating Officer
Period of report
Apr 1, 2017
Accepted (ET)
Apr 4, 2017 · 7:26 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 | 4,035 | $0.00 | A | 137,471 | D | |
| Common Stock | Apr 1, 2017 | M | 18,886 | $0.00 | A | 156,357 | D | |
| Common StockF1 | Apr 1, 2017 | F | 11,961 | $43.02 | D | 144,396 | 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 -5F2,F3,F4 | — | Apr 1, 2017 | M | 4,035 | D | — | — | Common Stock | 4,035 | 8,068 | D |
| Restricted Stock Units -6F2,F5,F4 | — | Apr 1, 2017 | M | 18,886 | D | — | — | Common Stock | 18,886 | 37,768 | D |
| Non-Qualified Stock Option (right to buy)F6 | $35.88 | holding | — | — | — | — | Apr 1, 2022 | Common Stock | 32,275 | 32,275 | D |
| Restricted Stock Units -3F2,F7,F4 | — | holding | — | — | — | — | — | Common Stock | 250,930 | 250,930 | D |
| Restricted Stock Units -4F2,F7,F4 | — | holding | — | — | — | — | — | Common Stock | 53,397 | 53,397 | D |
| Restricted Stock Units -7F2,F5,F4 | — | holding | — | — | — | — | — | Common Stock | 97,035 | 97,035 | D |
| Restricted Stock Units -8F2,F8,F4 | — | holding | — | — | — | — | — | Common Stock | 388,140 | 388,140 | D |
| Restricted Stock Units -9F2,F9,F4 | — | holding | — | — | — | — | — | Common Stock | 13,986 | 13,986 | D |
Explanation of responses
- F1Represents shares reacquired to satisfy tax withholding obligations in connection with the vesting of (a) 4,035 shares of restricted stock granted to the Reporting Person on 4/1/15 and (b) 18,886 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 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.
- F4Not applicable.
- F5The 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.
- F6The 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.
- F7The 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.
- F8The 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 quarterly 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 earned a total of 27,972 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 which vested on 3/1/17 (date of grant).