Form 4: Fiserv CEO Frank Bisignano Executes Stock Options, Disposes of Shares for Tax Obligations
SEC Form 4 Filing
Frank Bisignano, Fiserv's Chairman, President, and CEO, executed stock options and disposed of shares to cover tax liabilities, resulting in adjustments to his beneficial ownership.
Summary
- On February 23, 2024, Frank Bisignano, the Chairman, President, and CEO of Fiserv Inc., engaged in multiple transactions involving Fiserv's common stock.
- These transactions included the disposition of 17,215 shares at $150.76 per share and 7,945 shares at $150.96 on February 26, 2024 to cover tax liabilities related to vesting restricted stock units.
- Bisignano also exercised options to acquire 447,339 shares at $52.81 and 126,427 shares at $41.33.
- Additionally, he disposed of 313,453 shares and 84,236 shares at $150.76 to cover option costs and tax obligations related to the exercise of stock options.
- Following these transactions, Bisignano directly owns 3,123,867 shares of Fiserv common stock.
- He also has indirect ownership through a spouse (14,235 shares), accounts for a minor (4,690, 707, and 1,134 shares), a grantor retained annuity trust (17,173 shares), and trusts for his children (81,550 shares).
Sentiment
Score: 5
Explanation: The document reflects routine transactions related to executive compensation. It doesn't indicate any significant positive or negative sentiment regarding the company's performance or future prospects.
Industry Context
This Form 4 filing is a routine disclosure of insider transactions, which are common for executives who receive stock options and restricted stock as part of their compensation. These transactions do not necessarily reflect a change in the executive's confidence in the company.
Stakeholder Impact
- The transactions may have a minor impact on shareholders due to the change in the CEO's holdings, but the overall impact is likely minimal as these are routine transactions.
Key Dates
| Date | Description |
|---|---|
| 02/23/2024 | Date of multiple transactions including stock option exercises and share disposals. |
| 02/26/2024 | Date of share disposal to cover tax liabilities. |
| 02/27/2024 | Date of signature by attorney-in-fact. |
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