Form 4: Fiserv Director Defers Pay, Boosts Notional Unit Holdings

Fiserv Director Charlotte Yarkoni deferred $32,500 in compensation, acquiring 484 notional units under the company's non-employee director plan, increasing her total holdings to 1,837 units.

Summary

• Charlotte Yarkoni, a Director at Fiserv Inc. (FISV), acquired 484 deferred compensation notional units.
• These units were allocated under the Fiserv, Inc. Non-Employee Director Deferred Compensation Plan.
• The acquisition resulted from deferring $32,500 of director fees.
• The number of units was calculated by dividing the deferred amount by the common stock's closing price of $67.17 on December 31, 2025.
• Following this transaction, Ms. Yarkoni beneficially owns 1,837 deferred compensation notional units.
• Each notional unit will be settled in one share of Fiserv common stock upon cessation of her service to the company.

Sentiment

Score: 6

Explanation: The filing reports a routine, positive insider transaction where a director defers compensation into company stock, indicating alignment of interests. It does not contain any negative news or significant new information beyond this transaction.

Positives

• The deferral of compensation by a director indicates alignment of interests with long-term shareholder value.
• Participation in the deferred compensation plan demonstrates confidence in the company's future performance.

Negatives

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

Risks

• No specific risks are mentioned in this Form 4 filing, which primarily reports an insider transaction.

Future Outlook

The acquired 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.

Management Comments

• "These deferred compensation notional units were allocated under the Fiserv, Inc. Non-Employee Director Deferred Compensation Plan, under which director fees otherwise payable in cash may be deferred in exchange for the allocation of notional units under the Plan."
• "The number of notional units credited is calculated by dividing the amount of compensation that is deferred by the closing price of the company's common stock on the date of deferral, or last business day prior."
• "Following cessation of the reporting person's service to the company, each notional unit will be settled in shares of Fiserv common stock on a one-for-one basis."

Industry Context

Deferred compensation plans for non-employee directors are a common practice in publicly traded companies, aligning director interests with long-term shareholder value by linking a portion of their compensation to the company's stock performance over time.

Comparison to Industry Standards

• The structure of Fiserv's Non-Employee Director Deferred Compensation Plan, allowing directors to defer cash fees for notional units settled in stock, is a standard practice across many S&P 500 companies, including peers in the financial technology sector like PayPal Holdings, Inc. and Block, Inc., which also offer similar equity-based or deferred compensation programs for their non-executive directors.
• The one-for-one settlement of notional units into common stock upon service cessation is a typical feature designed to incentivize long-term commitment and align director interests with shareholder returns.

Corporate Governance

Related Party Transactions

• Charlotte Yarkoni, a director of Fiserv Inc., deferred $32,500 of her director fees in exchange for 484 notional units under the company's Non-Employee Director Deferred Compensation Plan.

Stakeholder Impact

• Shareholders: Demonstrates director's long-term commitment and alignment with shareholder interests through equity-linked compensation.
• Management: Reflects a standard practice in corporate governance for non-employee director compensation.

Next Steps

• Settlement of the deferred compensation notional units into Fiserv common stock upon Charlotte Yarkoni's cessation of service to the company.

Key Dates

Keywords

Fiserv, FISV, Charlotte Yarkoni, Director Compensation, Deferred Compensation, Insider Transaction, Form 4, SEC Filing, Notional Units, Equity Compensation