Form 4: Fiserv Director Heidi Miller Acquires 183 Notional Units Through Deferred Compensation Plan

Director Heidi Miller acquired 183 notional units of Fiserv stock through the company's deferred compensation plan.

Summary

• Heidi Miller, a director at Fiserv, acquired 183 notional units of the company's stock on December 31, 2024.
• These units were granted as part of the Fiserv Non-Employee Director Deferred Compensation Plan.
• The units represent deferred compensation of $37,500.
• The number of units was calculated based on the closing price of Fiserv's common stock on December 31, 2024, which was $205.42 per share.
• These notional units will be settled in shares of Fiserv common stock on a one-for-one basis after Ms. Miller ceases to be a director.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction related to director compensation, which is generally viewed neutrally to slightly positive as it aligns director interests with the company's performance.

Positives

• The acquisition of notional units demonstrates a director's continued investment in the company's future.
• The deferred compensation plan aligns director interests with long-term shareholder value.

Future Outlook

The notional units will be settled in shares of Fiserv common stock on a one-for-one basis after Ms. Miller ceases to be a director.

Industry Context

This is a standard practice for compensating non-employee directors, aligning their interests with the company's long-term performance.

Comparison to Industry Standards

• Deferred compensation plans are a common practice among publicly traded companies to compensate directors.
• Many companies use similar methods of granting stock or stock-equivalent units based on a fixed dollar amount and the current stock price.
• The one-for-one conversion of notional units to shares is a typical feature of these plans.

Stakeholder Impact

• The transaction has a minor positive impact on shareholders as it aligns director interests with the company's long-term performance.

Key Dates

Keywords

Fiserv, Director, Deferred Compensation, Notional Units, Stock Acquisition, Heidi Miller, Form 4