SEC Form 4 · accession 0001633917-18-000158
PayPal Holdings, Inc. · PYPL
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Daniel H Schulman
Officer — President and CEO · Director
Period of report
Jun 29, 2018
Accepted (ET)
Jul 3, 2018 · 3:34 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 StockF1,F2 | Jun 29, 2018 | S | 11,000 | $83.4223 | D | 342,297 | D | |
| Common Stock | Jun 29, 2018 | M | 15,000 | $31.56 | A | 357,297 | D | |
| Common StockF1,F3 | Jun 29, 2018 | S | 15,000 | $83.4253 | D | 342,297 | 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 | $31.56 | Jun 29, 2018 | M | 15,000 | D | — | Oct 15, 2021 | Common Stock | 15,000 | 86,764 | D |
| Non-Qualified Stock Option (right to buy)F5 | $35.88 | holding | — | — | — | — | Apr 1, 2022 | Common Stock | 145,234 | 145,234 | D |
| Non-Qualified Stock Option (right to buy)F6 | $41.64 | holding | — | — | — | — | Jul 17, 2022 | Common Stock | 30,485 | 30,485 | D |
| Performance Stock UnitsF7 | — | holding | — | — | — | — | Apr 1, 2023 | Common Stock | 379,110 | 379,110 | D |
| Restricted Stock Units -1F10,F8,F9 | — | holding | — | — | — | — | — | Common Stock | 33,701 | 33,701 | D |
| Restricted Stock Units -3F10,F11,F9 | — | holding | — | — | — | — | — | Common Stock | 18,154 | 18,154 | D |
| Restricted Stock Units -4F10,F12,F9 | — | holding | — | — | — | — | — | Common Stock | 7,621 | 7,621 | D |
| Restricted Stock Units -5F10,F13,F9 | — | holding | — | — | — | — | — | Common Stock | 54,555 | 54,555 | D |
| Restricted Stock Units -6F10,F13,F9 | — | holding | — | — | — | — | — | Common Stock | 121,292 | 121,292 | D |
| Restricted Stock Units -9F10,F13,F9 | — | holding | — | — | — | — | — | Common Stock | 113,173 | 113,173 | D |
Explanation of responses
- F1The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan.
- F10Each restricted stock unit represents a contingent right to receive one share of PayPal's common stock.
- F11The reporting person received restricted stock units subject to a four-year vesting schedule, vesting 25% on 4/1/16 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.
- F12The reporting person received restricted stock units subject to a four-year vesting schedule, vesting 25% on 07/17/16 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.
- F13The 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.
- F2Represents the weighted average price of shares sold at prices that ranged from $82.97 to $83.64.
- F3Represents the weighted average price of shares sold at prices that ranged from $82.96 to $83.645.
- F4The option grant is subject to a four-year vesting schedule, vesting 25% on 9/30/15 and 1/48th per month thereafter.
- F5The option grant is subject to a four-year vesting schedule, vesting 12.5% on 10/1/15 and 1/48th per month thereafter.
- F6The option grant is subject to a four-year vesting schedule, vesting 12.5% on 01/17/16 and 1/48th per month thereafter.
- F7Each performance stock unit represents a contingent right to receive one share of PayPal's common stock. One-half of the performance stock units are earned upon PayPal common stock achieving an average closing price per share of $105 or higher for 90 consecutive trading days during the five-year performance period. The other one-half of the performance stock units are earned upon PayPal common stock achieving an average closing price per share of $125 or higher for 90 consecutive trading days during the five-year performance period. If earned, the performance stock units will, subject to certain exceptions, vest ratably on the third, fourth and fifth anniversaries of the grant date. Any performance stock unit that has not been earned and vested as of the fifth anniversary of the grant date will be forfeited.
- F8The reporting person received restricted stock units subject to a four-year vesting schedule, vesting 25% on 10/15/15 and 25% each 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.
- F9Not applicable.