Form 4: Fiserv Director Doyle Simons Increases Equity Stake Through Deferred Compensation Plan

Fiserv, Inc. Director Doyle Simons acquired 285 deferred compensation notional units, valued at $49,038, by deferring director fees, increasing his total beneficial ownership to 44,601 units.

Summary

• Director Doyle Simons acquired 285 deferred compensation notional units under the Fiserv, Inc. Non-Employee Director Deferred Compensation Plan.
• The acquisition occurred on June 30, 2025, and represents $49,038 of deferred compensation.
• The number of notional units credited was calculated by dividing the deferred compensation amount by the closing price of Fiserv's common stock on June 30, 2025, which was $172.41 per share.
• Following this transaction, Doyle Simons beneficially owns a total of 44,601 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: 6

Explanation: The sentiment is slightly positive as it indicates a director's increased equity stake and alignment with shareholder interests through a routine compensation deferral.

Positives

• The deferral of compensation into equity-linked units by a director demonstrates alignment of interests with shareholders, as the director's personal wealth becomes more tied to the company's stock performance.
• The increase in beneficial ownership by a director can be viewed as a vote of confidence in the company's future prospects.

Future Outlook

The acquired deferred compensation notional units will be settled in shares of Fiserv common stock on a one-for-one basis upon the cessation of Doyle Simons' 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.

Industry Context

This transaction is a routine disclosure of director compensation deferral, a common practice in publicly traded companies 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-linked units is a standard corporate governance practice across many industries, including financial services and technology, as it fosters alignment between director interests and shareholder returns.
• While specific comparable companies or projects are not detailed in this filing, such deferred compensation plans are widely adopted by companies of similar size and market capitalization to Fiserv, Inc., such as Visa (V), Mastercard (MA), or PayPal (PYPL), to retain and incentivize board members.

Corporate Governance

Related Party Transactions

• The acquisition of deferred compensation notional units by Director Doyle Simons constitutes a related party transaction, as it involves a financial arrangement between the company and a member of its board of directors.

Stakeholder Impact

• Shareholders: The transaction increases Director Simons' equity interest, potentially aligning his financial incentives more closely with long-term shareholder value creation.
• Employees: No direct impact on employees is indicated by this filing.

Next Steps

• The deferred compensation notional units will be settled in shares of Fiserv common stock on a one-for-one basis upon the cessation of Doyle Simons' service to the company.

Key Dates

Keywords

Fiserv, FI, Doyle Simons, Director Compensation, Deferred Compensation, SEC Form 4, Insider Ownership, Equity Units, Financial Technology