Form 4: Fiserv Director Heidi Miller Reports Acquisition of Deferred Compensation Notional Units

Director Heidi Miller reports acquisition of deferred compensation notional units under Fiserv's Non-Employee Director Deferred Compensation Plan.

Summary

• Heidi Miller, a director at Fiserv Inc., reported the acquisition of 235 deferred compensation notional units on June 30, 2024.
• These units were allocated under the Fiserv, Inc. Non-Employee Director Deferred Compensation Plan.
• The units represent deferred director fees, where $35,000 of compensation was deferred.
• The number of units was calculated based on a price of $149.04 per share of Fiserv's common stock on June 28, 2024.
• Following the cessation of service, each notional unit will be settled in one share of Fiserv common stock.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive as it reflects standard director compensation practices, indicating stability and alignment of interests.

Positives

• The acquisition of deferred compensation units aligns the director's interests with the company's long-term performance.

Future Outlook

Upon cessation of service, each notional unit will be settled in shares of Fiserv common stock on a one-for-one basis.

Industry Context

Deferred compensation plans are a common way for companies to compensate directors, aligning their interests with shareholders by tying compensation to the company's stock performance.

Comparison to Industry Standards

• Many companies use deferred compensation plans for non-employee directors.
• The specifics of these plans, such as the deferral percentage and the timing of settlement, can vary widely.
• Companies like Visa and Mastercard also utilize similar deferred compensation plans for their directors.

Stakeholder Impact

• The transaction has a minor positive impact on shareholders by aligning director compensation with company performance.

Key Dates