Form 4: Fiserv Director De Castro Acquires Deferred Units

Fiserv Director Henrique De Castro acquired 484 deferred compensation notional units, valued at $32,500, as part of his compensation plan.

Summary

• Henrique De Castro, a Director at Fiserv Inc. (FISV), acquired 484 deferred compensation notional units.
• These units were credited on December 31, 2025, in respect of $32,500 of deferred compensation.
• The number of units was calculated based on Fiserv's common stock closing price of $67.17 per share on the date of deferral.
• Each notional unit will be settled in shares of Fiserv common stock on a one-for-one basis following the cessation of De Castro's service to the company.
• Following this transaction, De Castro beneficially owns 5,594 derivative securities (notional units).

Sentiment

Score: 6

Explanation: Slightly positive, as it indicates director alignment with shareholder interests through deferred equity compensation, which is a standard and healthy corporate governance practice.

Positives

• Director Henrique De Castro's decision to defer $32,500 of cash compensation into company notional units demonstrates alignment of his long-term interests with those of shareholders.
• The acquisition of 484 notional units, which convert to common stock, increases the director's vested interest in the company's future performance.

Negatives

• No direct cash investment was made by the director; this transaction represents a deferral of earned compensation rather than an open market purchase.

Future Outlook

This filing does not contain forward-looking statements or guidance regarding the company's future performance.

Industry Context

The deferral of director compensation into equity-linked units is a common practice in corporate governance, aligning the interests of non-employee directors with long-term shareholder value. This is consistent with compensation strategies seen across various industries, including financial technology.

Comparison to Industry Standards

• The structure of deferring cash compensation into equity-linked units is a standard practice for non-employee directors across many publicly traded companies, including peers in the financial technology sector.
• This mechanism is widely adopted to foster long-term commitment and align director incentives with shareholder returns, similar to compensation plans at companies like PayPal, Block, or Global Payments, which often include equity components for their non-executive board members.

Corporate Governance

Related Party Transactions

• The acquisition of deferred compensation notional units by Director Henrique De Castro is a related party transaction, as it involves compensation provided by the company to a member of its board of directors.

Stakeholder Impact

• Shareholders: The deferral of compensation into equity-linked units aligns the director's financial interests with long-term shareholder value.
• Employees: No direct impact on employees is indicated by this filing.
• Customers/Suppliers/Creditors: No direct impact on these stakeholders is indicated by this filing.

Next Steps

• Each notional unit will be settled in shares of Fiserv common stock on a one-for-one basis following the cessation of Henrique De Castro's service to the company.

Key Dates

Keywords

Fiserv, FISV, Henrique De Castro, Director Compensation, Deferred Compensation, Notional Units, Insider Transaction, SEC Form 4, Equity Compensation