SEC Form 4 · accession 0001633917-17-000115
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
Jun 15, 2017
Accepted (ET)
Jun 19, 2017 · 5:17 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 | Jun 15, 2017 | M | 25,092 | $0.00 | A | 115,241 | D | |
| Common Stock | Jun 15, 2017 | M | 5,340 | $0.00 | A | 120,581 | D | |
| Common StockF1 | Jun 15, 2017 | F | 15,881 | $52.29 | D | 104,700 | 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 | — | Jun 15, 2017 | M | 25,092 | D | — | — | Common Stock | 25,092 | 175,652 | D |
| Restricted Stock Units -4F2,F3,F4 | — | Jun 15, 2017 | M | 5,340 | D | — | — | Common Stock | 5,340 | 37,377 | 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 | 8,068 | 8,068 | D |
| Restricted Stock Units -6F2,F7,F4 | — | holding | — | — | — | — | — | Common Stock | 37,768 | 37,768 | D |
| Restricted Stock Units -7F2,F7,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 30,432 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.
- 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).
Remarks
The total amount of securities beneficially owned and reported in Table I, Column 5, has been adjusted to reflect 6,650 shares that were originally reported on Form 4 for the Reporting Person as of July 17, 2015, but were inadvertently omitted due to an administrative error in subsequent Form 4s for the Reporting Person.