Form 4: Fiserv Director Defers Compensation, Acquires Units

Fiserv Director Wafaa Mamilli deferred $37,500 in compensation, acquiring 559 notional units under the company's deferred compensation plan.

Summary

• Wafaa Mamilli, a Director at Fiserv Inc. (FISV), acquired 559 deferred compensation notional units.
• The transaction occurred on December 31, 2025.
• These units were allocated under the Fiserv, Inc. Non-Employee Director Deferred Compensation Plan.
• The allocation represents $37,500 of deferred compensation.
• The number of units was calculated using Fiserv's common stock closing price of $67.17 per share on December 31, 2025.
• Following this transaction, Mamilli beneficially owns 1,202 derivative securities (notional units).
• Each notional unit will be settled in one share of Fiserv common stock upon cessation of service to the company.

Sentiment

Score: 7

Explanation: The filing indicates a routine, positive action by a director to align interests with shareholders through deferred compensation, which is generally viewed favorably for corporate governance.

Positives

• Director Wafaa Mamilli's decision to defer cash compensation into company stock units demonstrates alignment of interests with shareholders.
• The deferred compensation plan encourages long-term commitment from non-employee directors.

Negatives

• No negative aspects are directly indicated by this routine insider transaction filing.

Risks

• No specific risks are mentioned in this Form 4 filing.

Future Outlook

The acquired deferred compensation notional units 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 transaction is a standard practice for non-employee directors in many publicly traded companies, allowing them to defer compensation and align their financial interests with long-term shareholder value. It reflects a common corporate governance mechanism to retain and incentivize board members.

Comparison to Industry Standards

• Many large-cap financial technology companies, similar to Fiserv, offer deferred compensation plans for their non-employee directors.
• For example, companies like Visa (V) and Mastercard (MA) also utilize similar equity-based compensation structures to align director incentives with long-term company performance.
• The specific terms, such as the conversion rate and vesting schedule, are generally comparable to industry benchmarks for director compensation.

Related Party Transactions

• Director Wafaa Mamilli's acquisition of deferred compensation notional units from Fiserv Inc. under the company's Non-Employee Director Deferred Compensation Plan constitutes a related party transaction.

Stakeholder Impact

• Shareholders: The deferral of compensation into equity units aligns the director's financial interests with long-term shareholder value.
• Directors: Provides a mechanism for non-employee directors to defer income and participate in the company's equity growth.

Next Steps

• The notional units will be settled in Fiserv common stock on a one-for-one basis upon the reporting person's cessation of service to the company.

Key Dates

Keywords

Fiserv, FISV, Wafaa Mamilli, Director Compensation, Deferred Compensation, Insider Transaction, Form 4, Equity Units, Corporate Governance