Form 4: Fiserv Director Doyle Simons Defers Compensation into Notional Units

Fiserv Director Doyle Simons acquired 838 deferred compensation notional units, valued at $56,250, under a pre-arranged plan.

Summary

• Director Doyle Simons of Fiserv Inc. (FISV) acquired 838 deferred compensation notional units.
• The acquisition was made under the Fiserv, Inc. Non-Employee Director Deferred Compensation Plan.
• These units represent $56,250 of deferred director fees.
• The number of units was calculated based on Fiserv's common stock closing price of $67.17 per share on December 31, 2025.
• Each notional unit will convert to one share of Fiserv common stock upon cessation of service.
• Following this transaction, Doyle Simons beneficially owns 45,876 derivative securities (notional units).

Sentiment

Score: 7

Explanation: Neutral to slightly positive. It's a routine transaction, but the director's choice to defer cash into equity shows confidence and alignment with shareholders. No significant financial impact or new information beyond the transaction itself.

Positives

• Director's decision to defer cash compensation into company stock units demonstrates alignment of interests with shareholders.
• The transaction was executed under a Rule 10b5-1 plan, indicating a pre-arranged, non-discretionary transaction.

Future Outlook

The 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 is a routine insider transaction related to director compensation, common across publicly traded companies. It reflects standard corporate governance practices for non-employee directors.

Comparison to Industry Standards

• Deferred compensation plans for non-employee directors are a common practice in the U.S. corporate landscape, aligning director interests with long-term shareholder value.
• The use of Rule 10b5-1 plans for such transactions is standard practice to mitigate concerns about insider trading.

Corporate Governance

Related Party Transactions

• Director Doyle Simons deferred $56,250 of compensation into 838 notional units under the company's Non-Employee Director Deferred Compensation Plan.

Stakeholder Impact

• Shareholders: Positive alignment of director's interests with shareholders through equity ownership.

Next Steps

• The notional units will convert to common stock shares upon the director's cessation of service.

Key Dates

Recommendation

This Form 4 reports a routine, pre-planned deferral of director compensation into equity units. While it demonstrates director alignment with shareholder interests, it does not provide new material information that would warrant a change in investment recommendation. The transaction is expected and does not signal any significant operational or strategic shifts for Fiserv.

Keywords

Fiserv, FISV, Doyle Simons, Director Compensation, Deferred Compensation, Insider Transaction, Form 4, Equity Compensation, Rule 10b5-1