SEC Form 4 · accession 0001633917-18-000025
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
Feb 2, 2018
Accepted (ET)
Feb 6, 2018 · 4:34 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 | Feb 2, 2018 | M | 50,977 | $33.80 | A | 114,020 | D | |
| Common StockF1,F2 | Feb 2, 2018 | S | 19,300 | $77.0099 | D | 94,720 | D | |
| Common StockF1,F3 | Feb 2, 2018 | S | 31,677 | $78.0859 | D | 63,043 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Non-Qualified Stock Option (right to buy)F4 | $33.80 | Feb 2, 2018 | M | 50,977 | D | — | Sep 15, 2022 | Common Stock | 50,977 | 36,413 | D |
| Restricted Stock Units -1F7,F5,F6 | — | holding | — | — | — | — | — | Common Stock | 21,847 | 21,847 | D |
| Restricted Stock Units -2F7,F5,F6 | — | holding | — | — | — | — | — | Common Stock | 43,694 | 43,694 | D |
| Restricted Stock Units -3F7,F8,F6 | — | holding | — | — | — | — | — | Common Stock | 33,572 | 33,572 | D |
| Restricted Stock Units -4F7,F8,F6 | — | holding | — | — | — | — | — | Common Stock | 60,647 | 60,647 | D |
| Restricted Stock Units -5F7,F9,F6 | — | holding | — | — | — | — | — | Common Stock | 75,738 | 75,738 | D |
Explanation of responses
- F1The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan.
- F2Represents the weighted average price of shares sold at prices that ranged from $76.76 to $77.76.
- F3Represents the weighted average price of shares sold at prices that ranged from $77.77 to $78.50.
- F4Options become exercisable as to 25% on the one year anniversary date of the grant and 1/48th monthly thereafter.
- F5The 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.
- F6Not applicable.
- F7Each restricted stock unit represents a contingent right to receive one share of PayPal's common stock.
- F8The 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.
- F9The 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.