PayPal Announces Executive and Board Changes

Ticker: PYPL · Form: 8-K · Filed: 2024-06-28T00:00:00.000Z

Sentiment: neutral

Topics: management-change, board-of-directors, executive-compensation

Related Tickers: PYPL

TL;DR

PayPal shakes up exec team & board, effective 6/25.

AI Summary

On June 25, 2024, PayPal Holdings, Inc. announced changes in its executive team and board of directors. The company elected new directors and appointed new officers, alongside adjustments to compensatory arrangements for certain executives. These changes are effective as of June 25, 2024.

Why It Matters

Changes in leadership and board composition can signal shifts in company strategy or governance, potentially impacting investor confidence and future performance.

Risk Assessment

Risk Level: medium — Executive and board changes can introduce uncertainty regarding future strategy and operational direction.

Key Players & Entities

FAQ

What specific roles have been affected by these executive and board changes?

The filing indicates changes related to the 'Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers' and 'Compensatory Arrangements of Certain Officers,' suggesting shifts in leadership positions and executive compensation structures, though specific names and roles beyond general categories are not detailed in this excerpt.

When were these changes officially reported and effective?

The Form 8-K was filed as of June 28, 2024, and the date of the earliest event reported, marking the effective date of these changes, is June 25, 2024.

What is PayPal's state of incorporation and IRS number?

PayPal Holdings, Inc. is incorporated in Delaware and its IRS Employer Identification Number is 47-2989869.

Where are PayPal's principal executive offices located?

PayPal's principal executive offices are located at 2211 North First Street, San Jose, CA 95131.

Does this filing detail the specific reasons for the departure of any officers or directors?

This excerpt of the filing indicates the departure of directors or certain officers but does not provide specific reasons for these departures.

From the Filing

0001633917-24-000084.txt : 20240628 0001633917-24-000084.hdr.sgml : 20240628 20240628163840 ACCESSION NUMBER: 0001633917-24-000084 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 13 CONFORMED PERIOD OF REPORT: 20240625 ITEM INFORMATION: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers FILED AS OF DATE: 20240628 DATE AS OF CHANGE: 20240628 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: 241086354 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-20240625.htm 8-K pypl-20240625 0001633917 false 0001633917 2024-06-25 2024-06-25 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): June 25, 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 25, 2024, the Board of Directors (the “Board”) of PayPal Holdings, Inc. (the “Company”) appointed Carmine Di Sibio as a new member of the Company’s Board, effective July 1, 2024. Mr. Di Sibio fills a vacancy created by an increase in the size of the Board from 11 to 12, and his term of office will expire at the Company’s 2025 annual meeting of stockholders or when his successor has been elected and qualified. As a non-employee director, Mr. Di Sibio will be entitled to rec

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