Form 4: PayPal Executive Frank Keller Reports Stock Transactions
SEC Form 4
Frank Keller, SVP, GM, Lg Ent & Mer Plat at PayPal Holdings, Inc., reports the vesting and subsequent tax withholding of restricted stock units, resulting in changes to his beneficial ownership of common stock.
Summary
- On March 1, 2024, Frank Keller, a Senior Vice President at PayPal, reported transactions involving restricted stock units (RSUs).
- These transactions included the vesting of RSUs granted on March 1, 2021, March 1, 2022 and March 1, 2023, resulting in the acquisition of PayPal common stock.
- A portion of the acquired shares (4,324) was withheld to satisfy tax obligations at a price of $60.34 per share.
- Keller also received a new restricted stock unit grant on March 1, 2024 for 41,019 shares.
- Following these transactions, Keller's directly held beneficial ownership of PayPal common stock is 31,116 shares, and he holds 41,019 new restricted stock units.
Sentiment
Score: 5
Explanation: This is a neutral report of stock transactions, with no inherent positive or negative sentiment.
Future Outlook
The reporting person will receive shares of common stock equal to the number of restricted stock units that have vested, according to the vesting schedules of the grants.
Industry Context
This filing is a routine disclosure of stock transactions by a company executive, which is common practice for publicly traded companies. It provides transparency into the executive's holdings and transactions in the company's stock.
Stakeholder Impact
- The transactions have a minor impact on shareholders as they reflect routine executive compensation and ownership changes.
- Employees may be interested in the details of executive compensation and equity ownership.
Key Dates
| Date | Description |
|---|---|
| 03/01/2021 | Restricted stock unit grant date, subject to a three-year vesting schedule. |
| 03/01/2022 | Restricted stock unit grant date, subject to a three-year vesting schedule. |
| 03/01/2023 | Restricted stock unit grant date, subject to a three-year vesting schedule. |
| 03/01/2024 | Date of transactions: vesting of RSUs, tax withholding, and new RSU grant. |
| 03/04/2024 | Date of Form 4 signature. |
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