Form 4: Fiserv Director Ajei Gopal Defers Compensation into Notional Units

Fiserv Inc. Director Ajei Gopal has elected to defer $32,500 of compensation into 189 notional units under the company's Non-Employee Director Deferred Compensation Plan.

Summary

• Ajei Gopal, a Director at Fiserv Inc. (FI), acquired 189 deferred compensation notional units on June 30, 2025.
• These units were allocated under the Fiserv, Inc. Non-Employee Director Deferred Compensation Plan, allowing director fees otherwise payable in cash to be deferred.
• The 189 notional units represent $32,500 of deferred compensation.
• The number of units was calculated by dividing the deferred amount by the closing price of Fiserv's common stock on June 30, 2025, which was $172.41 per share.
• Following the transaction, Ajei Gopal beneficially owns 869 direct notional units.
• Each notional unit will be settled in shares of Fiserv common stock on a one-for-one basis upon cessation of the reporting person's service to the company.

Sentiment

Score: 6

Explanation: The sentiment is mildly positive as a director deferring compensation into company stock units can be interpreted as a sign of confidence in the company's future, although it is a routine compensation event.

Positives

• The deferral of compensation into company stock units by a director can signal confidence in the company's long-term performance and alignment with shareholder interests.

Future Outlook

The document indicates that 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.

Industry Context

This filing reflects a standard practice within corporate governance where non-employee directors may elect to defer their compensation, often into equity-linked instruments, aligning their financial interests with the long-term performance of the company. This is common across various industries for publicly traded companies.

Comparison to Industry Standards

• The practice of offering deferred compensation plans to non-employee directors, allowing them to receive equity-linked units instead of cash, is a common and widely accepted corporate governance standard across U.S. public companies, including those in the financial technology sector like Fiserv.
• The one-for-one settlement of notional units into common stock upon service cessation is a typical structure for such plans, similar to those seen at companies like PayPal Holdings, Inc. or Block, Inc. (formerly Square), which also operate in the fintech space.

Corporate Governance

Related Party Transactions

• The transaction involves a director (Ajei Gopal) deferring compensation from Fiserv Inc. into notional units of the company, which is a related party transaction under the terms of the Non-Employee Director Deferred Compensation Plan.

Stakeholder Impact

• Shareholders: The deferral of compensation into equity units by a director aligns their financial interests with those of shareholders, potentially signaling long-term commitment and confidence in the company's performance.
• Employees: No direct impact mentioned.

Next Steps

• Settlement of notional units into Fiserv common stock upon cessation of Ajei Gopal's service to the company.

Key Dates

Keywords

Fiserv, FI, SEC Form 4, Insider Transaction, Deferred Compensation, Director Compensation, Notional Units, Equity Compensation, Ajei Gopal