Form 4: Fiserv Director Henrique De Castro Defers Compensation into Equity Units

Fiserv Director Henrique De Castro acquired 189 deferred compensation notional units by deferring $32,500 of director fees, aligning his interests with shareholder value.

Summary

• Henrique De Castro, a Director at Fiserv Inc. (FI), acquired 189 deferred compensation notional units on June 30, 2025.
• These units were obtained by deferring $32,500 of director fees under the Fiserv, Inc. Non-Employee Director Deferred Compensation Plan.
• The number of notional units credited was calculated based on Fiserv's common stock closing price of $172.41 per share on the deferral date.
• Each notional unit will be settled in one share of Fiserv common stock upon the cessation of Mr. De Castro's service to the company.
• Following this transaction, Henrique De Castro beneficially owns 4,857 deferred compensation notional units.

Sentiment

Score: 7

Explanation: The transaction reflects a director's commitment to the company by deferring cash compensation into equity-linked units, aligning personal financial interests with shareholder value, which is generally viewed positively.

Positives

• Director Henrique De Castro's decision to defer cash compensation into equity-linked notional units demonstrates strong alignment of his interests with those of Fiserv shareholders.
• The acquisition of additional equity-linked units increases the director's direct stake in the company's future performance and long-term value creation.

Negatives

• NA

Risks

• NA

Future Outlook

Each deferred compensation notional unit 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.

Management Comments

• NA

Industry Context

The practice of non-employee directors deferring cash compensation into equity or equity-linked units is a common corporate governance mechanism across various industries, including financial technology, to align director incentives with long-term shareholder value.

Comparison to Industry Standards

• Deferring director fees into equity is a widely adopted practice among publicly traded companies, including peers in the financial technology sector such as PayPal Holdings, Inc. or Block, Inc., as it aligns director interests with shareholder returns.
• This method of compensation is consistent with best practices for corporate governance, promoting long-term commitment and performance focus from board members, similar to compensation structures seen at leading financial services and tech companies.

Management Changes

Corporate Governance

Legal Proceedings

• NA

Related Party Transactions

• Acquisition of 189 deferred compensation notional units by Director Henrique De Castro, representing $32,500 of deferred director fees, under the company's Non-Employee Director Deferred Compensation Plan.

Stakeholder Impact

• Shareholders: Increased alignment of director's financial interests with long-term shareholder value due to the conversion of cash compensation into equity-linked units.

Next Steps

• Settlement of deferred compensation notional units into Fiserv common stock upon cessation of Henrique De Castro's service to the company.

Key Dates

Keywords

Fiserv, FI, Form 4, Insider Transaction, Director Compensation, Deferred Compensation, Equity Units, Stock Ownership, Corporate Governance