Form 4: Fiserv Director Acquires Deferred Compensation Notional Units

Director Charlotte Yarkoni acquired 253 deferred compensation notional units under Fiserv's Non-Employee Director Deferred Compensation Plan.

Summary

• Charlotte Yarkoni, a director at Fiserv Inc., acquired 253 deferred compensation notional units on September 30, 2025.
• The units were allocated under the Fiserv, Inc. Non-Employee Director Deferred Compensation Plan.
• The deferred compensation amounts to $32,500.
• The price per notional unit is $128.93, based on the closing price of Fiserv's common stock on September 30, 2025.
• Each notional unit will be settled in shares of Fiserv common stock on a one-for-one basis following the cessation of the reporting person's service to the company.
• Following the transaction, Yarkoni directly owns 1,353 derivative securities.

Sentiment

Score: 5

Explanation: Neutral. This Form 4 filing relates to a standard director compensation practice and does not contain information that would significantly impact market sentiment.

Positives

• Director's participation in the deferred compensation plan aligns their interests with the long-term performance of Fiserv.
• The deferred compensation plan allows directors to defer fees in exchange for notional units, potentially offering tax advantages.
• Acquisition of notional units reflects a continued investment in Fiserv's future by a member of the board.

Negatives

• None apparent in this filing; the transaction reflects standard deferred compensation practices.

Risks

• The value of the deferred compensation is tied to the future performance of Fiserv's common stock, which is subject to market risks.
• Changes in tax laws could impact the benefits of the deferred compensation plan.

Future Outlook

Following cessation of the reporting person's service to the company, each notional unit will be settled in shares of Fiserv common stock on a one-for-one basis.

Management Comments

• No direct quotes, but the filing indicates participation in the Non-Employee Director Deferred Compensation Plan.

Industry Context

Deferred compensation plans are a common practice for compensating non-employee directors at publicly traded companies, aligning their interests with shareholders and providing potential tax benefits.

Comparison to Industry Standards

• Many companies, such as Accenture, Oracle, and IBM, offer deferred compensation plans to their non-employee directors.
• The structure of Fiserv's plan, where notional units are settled in shares of common stock, is consistent with industry norms.
• The specific terms and conditions of deferred compensation plans can vary significantly between companies, depending on factors such as company size, industry, and executive compensation philosophy.

Stakeholder Impact

• Shareholders: Alignment of director interests with long-term company performance.
• Employees: No direct impact.
• Customers: No direct impact.
• Suppliers: No direct impact.
• Creditors: No direct impact.

Next Steps

• Settlement of notional units in shares of Fiserv common stock upon cessation of the reporting person's service to the company.

Key Dates

Recommendation

The filing indicates standard director compensation practices and does not provide any new information that would significantly alter the investment recommendation. A hold recommendation is appropriate.

Keywords

Fiserv, Director, Deferred Compensation, Notional Units, Form 4, Yarkoni, Executive Compensation, Stock Options