PayPal Appoints New CFO, Announces Director Departure

TL;DR

PayPal's CFO is changing June 10th, new CFO Blake Jorgensen gets $600k base + stock.

AI Summary

PayPal Holdings, Inc. announced on May 29, 2024, the departure of Director, David D. Dominguez, effective May 28, 2024. The company also announced the appointment of Blake Jorgensen as Chief Financial Officer, effective June 10, 2024. Jorgensen will receive an annual base salary of $600,000 and equity awards.

Why It Matters

The appointment of a new CFO is a significant leadership change that could signal shifts in financial strategy or operational focus for PayPal.

Risk Assessment

Risk Level: medium — Changes in key executive positions like CFO can introduce uncertainty regarding future financial strategies and performance.

Key Numbers

• $600,000 — CFO Base Salary (Blake Jorgensen's annual compensation)

Key Players & Entities

• PayPal Holdings, Inc. (company) — Registrant
• David D. Dominguez (person) — Departing Director
• May 28, 2024 (date) — Departure Date
• Blake Jorgensen (person) — Appointed Chief Financial Officer
• June 10, 2024 (date) — CFO Effective Date
• $600,000 (dollar_amount) — CFO Base Salary

FAQ

From the Filing

0001633917-24-000075.txt : 20240603 0001633917-24-000075.hdr.sgml : 20240603 20240603170953 ACCESSION NUMBER: 0001633917-24-000075 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 15 CONFORMED PERIOD OF REPORT: 20240529 ITEM INFORMATION: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20240603 DATE AS OF CHANGE: 20240603 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PayPal Holdings, Inc. CENTRAL INDEX KEY: 0001633917 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-BUSINESS SERVICES, NEC [7389] ORGANIZATION NAME: 07 Trade & Services IRS NUMBER: 472989869 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-36859 FILM NUMBER: 241014721 BUSINESS ADDRESS: STREET 1: 2211 NORTH FIRST STREET CITY: SAN JOSE STATE: CA ZIP: 95131 BUSINESS PHONE: (408) 967-1000 MAIL ADDRESS: STREET 1: 2211 NORTH FIRST STREET CITY: SAN JOSE STATE: CA ZIP: 95131 8-K 1 pypl-20240529.htm 8-K pypl-20240529 0001633917 false 0001633917 2024-05-29 2024-05-29 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM  8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): May 29, 2024 PayPal Holdings, Inc. (Exact name of registrant as specified in its charter) Delaware 001-36859 47-2989869 (State or other jurisdiction (Commission File Number) (I.R.S. Employer of incorporation) Identification No.) 2211 North First Street San Jose , CA 95131 (Address of principal executive offices) ( 408 )  967-1000 (Registrant’s telephone number, including area code) Not Applicable (Former name or former address, if changed since last report) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below): ☐     Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐     Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐     Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐     Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol(s) Name of each exchange on which registered Common stock, $0.0001 par value per share PYPL NASDAQ Global Select Market Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐ Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers . On June 3, 2024, PayPal Holdings, Inc. (the “Company,” and collectively with its consolidated subsidiaries, “PayPal”) announced the appointment of Christopher Natali as the Company’s Vice President, Chief Accounting Officer, effective June 20, 2024. Mr. Natali, age 47, previously served as Chief Accounting Officer and Interim Chief Financial Officer of Alteryx, Inc., since March 2024, and Chief Accounting Officer of Alteryx since Januar