Fiserv Inc. Files Definitive Proxy Statement

Ticker: FISV · Form: DEF 14A · Filed: Apr 3, 2024 · CIK: 798354

Fiserv Inc DEF 14A Filing Summary
FieldDetail
CompanyFiserv Inc (FISV)
Form TypeDEF 14A
Filed DateApr 3, 2024
Risk Levellow
Pages14
Reading Time17 min
Sentimentbullish

Sentiment: bullish

Topics: Fiserv, Proxy Statement, DEF 14A, Financial Technology, Shareholder Meeting

TL;DR

<b>Fiserv, Inc. filed its Definitive Proxy Statement, highlighting strong 2023 financial performance and outlining strategies for sustained industry leadership and shareholder returns.</b>

AI Summary

FISERV INC (FISV) filed a Proxy Statement (DEF 14A) with the SEC on April 3, 2024. Fiserv, Inc. filed a Definitive Proxy Statement (DEF 14A) on April 3, 2024. The filing covers the period ending May 15, 2024. The company reported strong financial results in 2023, exceeding revenue, margin, and EPS targets set in 2020. Fiserv attributes its performance to a diverse client base, product portfolio, distribution network, capital resources, strategic vision, and operational excellence. The company plans to sustain industry-leading performance through 2024 and beyond, anticipating continued strong results for investment, acquisitions, and capital return to shareholders.

Why It Matters

For investors and stakeholders tracking FISERV INC, this filing contains several important signals. This filing provides shareholders with crucial information regarding upcoming annual meetings, executive compensation, and voting matters, enabling informed participation in corporate governance. The company's reiteration of exceeding past targets and commitment to future growth and shareholder returns suggests a positive outlook, potentially influencing investor confidence and stock performance.

Risk Assessment

Risk Level: low — FISERV INC shows low risk based on this filing. The filing is a routine proxy statement, indicating standard corporate governance procedures rather than immediate financial distress or significant new risks.

Analyst Insight

Shareholders should review the proxy statement for details on executive compensation, director nominations, and any proposed corporate actions to make informed voting decisions.

Key Numbers

  • 2024-04-03 — Filing Date (DEF 14A filing date)
  • 2024-05-15 — Period of Report (Conformed period of report)
  • 2023 — Fiscal Year (Year of strong financial results)
  • 2020 — Target Year (Year revenue, margin, and EPS targets were set)

Key Players & Entities

  • FISERV INC (company) — Registrant
  • 0000798354 (company) — Central Index Key
  • 7389 (company) — Standard Industrial Classification
  • WI (company) — State of Incorporation
  • 001-38962 (company) — SEC File Number
  • 24819280 (company) — Film Number
  • 600 N. VEL R. PHILLIPS AVENUE (company) — Business Address Street 1
  • MILWAUKEE (company) — Business Address City

FAQ

When did FISERV INC file this DEF 14A?

FISERV INC filed this Proxy Statement (DEF 14A) with the SEC on April 3, 2024.

What is a DEF 14A filing?

A DEF 14A is a definitive proxy statement sent to shareholders before annual meetings, covering executive compensation, board nominations, and shareholder votes. This particular DEF 14A was filed by FISERV INC (FISV).

Where can I read the original DEF 14A filing from FISERV INC?

You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by FISERV INC.

What are the key takeaways from FISERV INC's DEF 14A?

FISERV INC filed this DEF 14A on April 3, 2024. Key takeaways: Fiserv, Inc. filed a Definitive Proxy Statement (DEF 14A) on April 3, 2024.. The filing covers the period ending May 15, 2024.. The company reported strong financial results in 2023, exceeding revenue, margin, and EPS targets set in 2020..

Is FISERV INC a risky investment based on this filing?

Based on this DEF 14A, FISERV INC presents a relatively low-risk profile. The filing is a routine proxy statement, indicating standard corporate governance procedures rather than immediate financial distress or significant new risks.

What should investors do after reading FISERV INC's DEF 14A?

Shareholders should review the proxy statement for details on executive compensation, director nominations, and any proposed corporate actions to make informed voting decisions. The overall sentiment from this filing is bullish.

How does FISERV INC compare to its industry peers?

Fiserv operates in the financial technology sector, providing services and solutions to financial institutions.

Are there regulatory concerns for FISERV INC?

The filing is made under the Securities Exchange Act of 1934, specifically Section 14(a), which governs the solicitation of proxies.

Industry Context

Fiserv operates in the financial technology sector, providing services and solutions to financial institutions.

Regulatory Implications

The filing is made under the Securities Exchange Act of 1934, specifically Section 14(a), which governs the solicitation of proxies.

What Investors Should Do

  1. Review executive compensation details and director nominations.
  2. Understand proposals to be voted on at the shareholder meeting.
  3. Assess the company's strategic outlook and financial performance commentary.

Year-Over-Year Comparison

This is a DEF 14A filing, which is a standard annual proxy statement and does not represent a change from previous filings in terms of its nature, but provides updated information for the current reporting period.

Filing Stats: 4,298 words · 17 min read · ~14 pages · Grade level 14.7 · Accepted 2024-04-03 16:31:28

Filing Documents

Executive Compensation

Executive Compensation 45 Summary Compensation Table 45 Grants of Plan-Based Awards in 2023 47 Outstanding Equity Awards at December 31, 2023 48 Option Exercises and Stock Vested During 2023 49 Non-Qualified Deferred Compensation in 2023 50 Potential Payments Upon Termination or Change of Control 50 Pay Versus Performance 58 Pay Ratio 61 Audit and Related Matters 63 Proposal 3: Ratification of the Appointment of Independent Registered Public Accounting Firm 63 Independent Registered Public Accounting Firm and Fees 64 Audit Committee Pre-Approval Policy 64 Audit Committee Report 64 Our Shareholders 66 Common Stock Ownership 66 Voting, Meeting and Other Matters 68 Notice of Internet Availability of Proxy Materials 68 Who Can Vote 68 How to Vote 68 Proxies 69 How to Participate in the Meeting 70 Quorum 70 Delinquent Section 16(a) Reports 70 Shareholder Proposals for the 2025 Annual Meeting 70 Proxy Statement and Annual Report Delivery 71

Forward-Looking Statements

Forward-Looking Statements 72 Appendix A – Non-GAAP Financial Measures A-1 Fiserv, Inc. 2024 Proxy Statement | 03 TABLE OF CONTENTS Proxy Summary This summary highlights selected information in this proxy statement. Please review the entire proxy statement and our Annual Report on Form 10-K for the year ended December 31, 2023, before voting your shares. Annual Meeting Information Time and Date Wednesday, May 15, 2024 10:00 a.m. (CT) Virtual Meeting Site www.virtualshareholdermeeting.com/FI2024 Record Date March 18, 2024 Items of Business Board's Recommendation Where to Find Details 1. Election of ten directors to serve for a one-year term and until their successors are elected and qualified. FOR all nominees P. 12 - 18 2. Approval, on an advisory basis, of the compensation of our named executive officers. FOR P. 28 - 29 3. Ratification of appointment of Deloitte & Touche LLP as our independent registered public accounting firm for 2024. FOR P. 63 04 | Fiserv, Inc. 2024 Proxy Statement TABLE OF CONTENTS Proxy Summary Director Nominees Director Nominees Committee Memberships Directors Occupation Age Director Since Independent Other Public Directorships Audit Nominating and Corporate Governance Talent and Compensation Risk Frank J. Bisignano Chairman, President and Chief Executive Officer 64 2019 Henrique de Castro Former Chief Operating Officer of Yahoo! Inc. 58 2019 1 Harry F. DiSimone Former President of Commerce Advisors, Inc. 69 2018 Lance M. Fritz Retired Chairman, President and Chief Executive Officer of Union Pacific Railroad Corporation 61 2024 1 Ajei S. Gopal President and Chief Executive Officer of ANSYS, Inc. 62 2024 1 Wafaa Mamilli EVP, Chief Digital & Technology Officer and Group President for China, Brazil and Precision Animal Health of Zoetis, Inc. 56 2021 Heidi G. Miller Former President of JPMorgan International 70 2019 Doyle R. Simons (1) Former President and Chief Executive

Executive Compensation

Executive Compensation Commitment to Performance Share Units. As reflected on page 32 , 82% of Mr. Bisignano's total compensation for 2023 was in the form of equity, with 60% of the equity awards in the form of performance share units ("PSUs") and 40% in the form of restricted stock units ("RSUs"). Our other executive officers also received a substantial majority of their compensation in equity, split equally between PSUs and RSUs. New Clawback Policy . We adopted an updated compensation recoupment policy that complies with new Securities and Exchange Commission rules and New York Stock Exchange listing standards . In addition to meeting the regulatory requirements, the policy provides the company with additional recovery rights for financial restatements and in circumstances of employee misconduct or noncompliance. Corporate Social Responsibility GHG Reduction Targets. Our 2023 Corporate Social Responsibility (CSR) Report will include, for the first time, greenhouse gas emission reduction targets. Enhanced ESG Reporting. Our Environmental, Social and Governance (ESG) programs and reporting continue to mature, and our 2023 CSR Report aligns with the Sustainability Accounting Standards Board (SASB), Global Reporting Initiative (GRI) reporting standards, and Task Force on Climate-Related Disclosures (TCFD) standards. Associate Engagement. In 2023, 92% of our associates participated in our annual global associate engagement survey. In the trust in leadership dimension, we scored in the top decile across benchmarks. We also scored above the benchmark average on inclusiveness, reflecting our associates' belief that Fiserv fosters an environment where people of diverse backgrounds can thrive and succeed. We also continued to focus on providing associates with training, learning, and career development opportunities and on building our recruiting and internal mobility programs. Employee Resource Group Growth. Our Employee Resource Groups continue to grow in n

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