SEC Form 4 · accession 0001633917-18-000198

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

Oct 15, 2018

Accepted (ET)

Oct 17, 2018 · 6:18 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	Oct 15, 2018	M	33,701	$0.00	A	339,207	D
Common Stock^F1	Oct 15, 2018	F	16,381	$77.23	D	322,826	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 -1^F2,F3,F4	—	Oct 15, 2018	M	33,701	D	—	—	Common Stock	33,701	0	D
Non-Qualified Stock Option (right to buy)^F5	$31.56	holding	—	—	—	—	Oct 15, 2021	Common Stock	41,764	41,764	D
Non-Qualified Stock Option (right to buy)^F6	$35.88	holding	—	—	—	—	Apr 1, 2022	Common Stock	145,234	145,234	D
Non-Qualified Stock Option (right to buy)^F7	$41.64	holding	—	—	—	—	Jul 17, 2022	Common Stock	30,485	30,485	D
Performance Stock Units^F8	—	holding	—	—	—	—	Apr 1, 2023	Common Stock	379,110	379,110	D
Restricted Stock Units -3^F2,F9,F4	—	holding	—	—	—	—	—	Common Stock	18,154	18,154	D
Restricted Stock Units -4^F2,F10,F4	—	holding	—	—	—	—	—	Common Stock	3,810	3,810	D
Restricted Stock Units -5^F2,F11,F4	—	holding	—	—	—	—	—	Common Stock	54,555	54,555	D
Restricted Stock Units -6^F2,F11,F4	—	holding	—	—	—	—	—	Common Stock	121,292	121,292	D
Restricted Stock Units -9^F2,F11,F4	—	holding	—	—	—	—	—	Common Stock	113,173	113,173	D

Explanation of responses

F1Represents shares withheld to satisfy tax withholding obligations in connection with the vesting of shares of restricted stock units granted to the Reporting Person.
F10The 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.
F11The 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.
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 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.
F4Not applicable.
F5The option grant is subject to a four-year vesting schedule, vesting 25% on 9/30/15 and 1/48th per month thereafter.
F6The option grant is subject to a four-year vesting schedule, vesting 12.5% on 10/1/15 and 1/48th per month thereafter.
F7The option grant is subject to a four-year vesting schedule, vesting 12.5% on 01/17/16 and 1/48th per month thereafter.
F8Each 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.
F9The 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.