Form 4: Fiserv Director Defers Compensation for Equity

Fiserv Director Ajei Gopal deferred $32,500 in compensation, receiving 484 notional units convertible to common stock.

Summary

• Ajei Gopal, a Director at Fiserv Inc. (FISV), acquired 484 Deferred Compensation Notional Units.
• The transaction occurred on December 31, 2025, under the Fiserv, Inc. Non-Employee Director Deferred Compensation Plan.
• The units represent a deferral of $32,500 in director fees.
• The number of units was calculated based on Fiserv's common stock closing price of $67.17 per share on the deferral date.
• Following this transaction, Ajei Gopal beneficially owns a total of 1,606 Deferred Compensation Notional Units.
• Each notional unit will be settled in shares of Fiserv common stock on a one-for-one basis upon the cessation of the reporting person's service to the company.

Sentiment

Score: 5

Explanation: Neutral, as this is a routine and expected deferred compensation transaction for a director, reflecting standard corporate governance practices rather than new operational or financial performance.

Positives

• The deferral of cash compensation into equity aligns the director's financial interests with those of shareholders, promoting long-term value creation.

Future Outlook

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

Industry Context

Deferred compensation plans for non-employee directors, where fees are converted into equity-linked units, are a common practice across various industries, including financial technology, to align director incentives with long-term shareholder value.

Comparison to Industry Standards

• The practice of non-employee directors deferring cash compensation into equity-based units is a standard corporate governance mechanism, widely adopted by companies like Visa, Mastercard, and PayPal, to foster long-term alignment with shareholder interests.
• The one-for-one conversion of notional units to common stock upon service cessation is a typical settlement structure for such plans.

Corporate Governance

Stakeholder Impact

• Shareholders: The transaction increases the director's equity stake, potentially enhancing alignment with shareholder interests. Future settlement will involve issuance of common stock, which could lead to minor dilution.
• Director (Ajei Gopal): Receives compensation in the form of equity-linked units, tying personal wealth directly to the company's stock performance.

Next Steps

• The notional units will be settled in Fiserv common stock upon the cessation of Ajei Gopal's service to the company.

Key Dates

Keywords

Fiserv, FISV, Ajei Gopal, Director Compensation, Deferred Compensation, Insider Transaction, Equity Compensation, Form 4