Form 4: Fiserv COO Guy Chiarello Exercises Options and Sells Shares

Fiserv's Chief Operating Officer, Guy Chiarello, executed stock options and sold shares under a pre-arranged trading plan.

Summary

• On May 15, 2024, Guy Chiarello, the Chief Operating Officer of Fiserv Inc., exercised employee stock options to acquire 24,000 shares of common stock at a price of $52.81 per share.
• Simultaneously, Chiarello sold 12,117 shares at a weighted average price of $154.21 and 11,883 shares at a weighted average price of $154.91.
• These transactions were executed under a Rule 10b5-1 trading plan established on December 15, 2023, for estate and financial planning purposes.
• Following these transactions, Chiarello directly owns 163,699 shares and indirectly owns 37,381 shares through The Denise Chiarello 2021 Trust.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing detailing insider transactions, which carries a neutral sentiment. The transactions are part of a pre-planned trading strategy.

Industry Context

This filing is a routine disclosure of insider transactions and provides transparency to the market regarding the trading activities of Fiserv's top executives. It is common for executives to utilize 10b5-1 plans to manage their stock holdings and avoid accusations of insider trading.

Comparison to Industry Standards

• Similar filings are common among executives at comparable companies like Global Payments, Block, and PayPal.
• The use of a 10b5-1 trading plan is a standard practice to ensure compliance with insider trading regulations.
• The reported transaction prices are within the typical range observed for Fiserv's stock during the relevant period.

Stakeholder Impact

• The transactions may have a minor impact on shareholders due to the increased supply of shares in the market.
• The transactions do not directly impact employees, customers, suppliers, or creditors.

Key Dates