Form 4: Fiserv Director Defers Compensation, Boosts Equity Stake

Fiserv Director Lance M. Fritz deferred $37,500 in compensation, receiving 559 notional units under the company's deferred compensation plan, increasing his beneficial ownership to 1,793 units.

Summary

• Lance M. Fritz, a Director at Fiserv Inc. (FISV), acquired 559 deferred compensation notional units.
• 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 based on Fiserv's common stock closing price of $67.17 per share on December 31, 2025.
• Following this transaction, Mr. Fritz beneficially owns 1,793 derivative securities.
• Each notional unit will be settled in shares of Fiserv common stock on a one-for-one basis upon cessation of service.

Sentiment

Score: 6

Explanation: Slightly positive. While a routine transaction, it indicates a director's continued commitment and alignment with shareholder interests by increasing their equity stake through deferred compensation.

Positives

• Director Lance M. Fritz is increasing his equity exposure to Fiserv, aligning his interests with shareholders.
• The deferral of cash compensation into company equity demonstrates confidence in the company's future performance.

Negatives

• No direct negatives are apparent from this routine compensation deferral.

Risks

• The value of the deferred compensation units is tied to the future performance of Fiserv's common stock, exposing the director to market risk.

Future Outlook

This filing does not contain forward-looking statements or guidance regarding the company's future performance, focusing solely on an insider compensation transaction.

Industry Context

The deferral of director compensation into equity is a common practice across various industries, particularly in publicly traded companies, to align the interests of non-employee directors with those of shareholders. This practice is standard within the financial technology sector, where companies like Fiserv often use equity-based compensation to attract and retain talent and leadership.

Comparison to Industry Standards

• Many large-cap technology and financial services companies, such as Visa, Mastercard, and PayPal, utilize similar deferred compensation plans for their non-employee directors, often allowing for deferral into phantom stock or restricted stock units.
• The mechanism of calculating units based on the stock's closing price on the deferral date is a standard and transparent method for such plans, consistent with corporate governance best practices observed in companies like JPMorgan Chase or Bank of America for their board compensation.
• The one-for-one settlement of notional units into common stock upon cessation of service is also a typical feature, ensuring directors maintain a vested interest in the company's long-term performance.

Corporate Governance

Related Party Transactions

• The allocation of deferred compensation notional units to Director Lance M. Fritz constitutes a related party transaction, as it involves compensation provided by the company to a member of its board of directors under an established plan.

Stakeholder Impact

• **Shareholders:** The transaction demonstrates a director's continued commitment and alignment with shareholder interests by increasing their equity stake in the company.
• **Employees:** No direct impact on employees is indicated by this director compensation 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 Lance M. Fritz's service to the company.

Key Dates

Keywords

Fiserv, FISV, Lance M. Fritz, Director Compensation, Deferred Compensation, Insider Transaction, Form 4, Equity Stake, Notional Units