SEC Form 4 · accession 0001633917-18-000035
PayPal Holdings, Inc. · PYPL
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Aaron Anderson
Officer — VP, Chief Accounting Officer
Period of report
Feb 15, 2018
Accepted (ET)
Feb 20, 2018 · 5:10 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 StockF1 | Feb 15, 2018 | A | 5,948 | $0.00 | A | 17,561 | D | |
| Common StockF2 | Feb 15, 2018 | F | 2,105 | $78.295 | D | 15,456 | D | |
| Common StockF3,F4 | Feb 16, 2018 | S | 3,843 | $77.9792 | D | 11,613 | 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 -1F7,F5,F6 | — | holding | — | — | — | — | — | Common Stock | 1,963 | 1,963 | D |
| Restricted Stock Units -2F7,F5,F6 | — | holding | — | — | — | — | — | Common Stock | 3,533 | 3,533 | D |
| Restricted Stock Units -3F7,F5,F6 | — | holding | — | — | — | — | — | Common Stock | 7,204 | 7,204 | D |
| Restricted Stock Units -4F7,F5,F6 | — | holding | — | — | — | — | — | Common Stock | 4,034 | 4,034 | D |
| Restricted Stock Units -5F7,F8,F6 | — | holding | — | — | — | — | — | Common Stock | 3,777 | 3,777 | D |
| Restricted Stock Units -6F7,F8,F6 | — | holding | — | — | — | — | — | Common Stock | 9,098 | 9,098 | D |
Explanation of responses
- F1AIP share footnote: The reporting person earned 5,948 shares in respect of performance-based restricted stock unit units (PBRSUs) based on the company's achievement of certain performance targets for the 2017 performance period, which were vested as shares of common stock on 2/15/18.
- F2Tax withholding footnote: Represents shares withheld to satisfy tax withholding obligations in connection with the vesting of 5,948 shares of common stock underlying PBRSUs on 2/15/18 (see footnote 1).
- F3The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan.
- F4Represents the weighted average price of shares sold at prices that ranged from $77.62 to $78.26.
- 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.