Form 4: Fiserv Director DiSimone Boosts Holdings via Deferred Comp

Fiserv Director Harry DiSimone acquired 253 deferred compensation notional units, increasing his beneficial ownership to 6,915 units.

Summary

• Director Harry DiSimone acquired 253 deferred compensation notional units of Fiserv Inc. (FI).
• The transaction occurred on September 30, 2025.
• These units were allocated under the Fiserv, Inc. Non-Employee Director Deferred Compensation Plan.
• The allocation represents $32,500 of deferred compensation.
• The number of units was calculated using the closing stock price of $128.93 per share on September 30, 2025.
• Following this transaction, DiSimone beneficially owns 6,915 deferred compensation notional units.
• Each notional unit will be settled in one share of Fiserv common stock upon cessation of DiSimone's service to the company.

Sentiment

Score: 7

Explanation: The acquisition of additional notional units by a director, even through a deferred compensation plan, generally signals continued confidence in the company's future performance and aligns management interests with shareholders, which is a positive indicator.

Positives

• Director Harry DiSimone's increased beneficial ownership aligns his interests further with those of shareholders.
• The transaction demonstrates continued participation in the company's deferred compensation plan, indicating confidence.

Future Outlook

The acquired notional units will convert into 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, allowing director fees otherwise payable in cash to be deferred in exchange for notional units.
• The number of notional units credited is determined by dividing the deferred compensation amount by the closing price of the company's common stock on the date of deferral.

Industry Context

This transaction reflects a common practice in corporate governance where non-employee directors defer a portion of their compensation into equity-linked instruments, aligning their long-term interests with shareholders. Such plans are standard across many publicly traded companies.

Comparison to Industry Standards

• The use of a Non-Employee Director Deferred Compensation Plan, where cash fees are converted into equity-linked notional units, is a widely accepted and common practice among U.S. public companies, including peers in the financial technology sector.
• This mechanism is designed to align director incentives with long-term shareholder value, similar to plans observed at companies like Visa, Mastercard, and PayPal, which also offer various forms of equity-based compensation or deferral options for their non-executive directors.

Corporate Governance

Related Party Transactions

• The transaction involves a director (Harry DiSimone) acquiring equity-linked units from the company (Fiserv Inc.) as part of his compensation, which constitutes a related party transaction.

Stakeholder Impact

• Shareholders: The increased equity-linked holdings of a director can be viewed positively as it enhances alignment between management and shareholder interests.
• Employees: No direct impact mentioned.
• Customers: No direct impact mentioned.
• Suppliers: No direct impact mentioned.
• Creditors: No direct impact mentioned.

Next Steps

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

Key Dates

Keywords

Fiserv, FI, Form 4, Insider Transaction, Director Compensation, Deferred Compensation, Notional Units, Harry DiSimone