[Form 4] PayPal Holdings, Inc. Insider Trading Activity

Rhea-AI Filing Summary

PayPal Holdings (PYPL) Form 4: VP & Chief Accounting Officer Chris Natali reported an open-market sale of 7,102 common shares on 07/31/2025 at an average price of $69.3508, generating roughly $0.49 million in proceeds. The filing shows zero shares remaining in Natali’s direct ownership after the transaction, indicating a complete disposal of personally held stock.

Positive

• None.

Negative

• Complete insider share disposal: Officer sold 7,102 shares and now holds 0, suggesting reduced personal stake and potentially negative sentiment.

Insights

Financial Analyst

TL;DR: C-suite insider liquidates all PYPL shares—minor size vs. float but potential negative sentiment signal.

Although 7,102 shares represent an immaterial 0.001% of PayPal’s ~1.1 billion share float, the fact that the company’s Chief Accounting Officer exited his entire direct position can be interpreted as a lack of near-term confidence or a desire for diversification ahead of upcoming events. Investors often watch insider net buying vs. selling trends; a full divestiture by a senior finance executive leans bearish on sentiment, even though one transaction alone is rarely fundamental. No derivative activity or 10b5-1 plan was disclosed, amplifying the discretionary nature of the sale.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
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hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Natali Chris

(Last) (First) (Middle)

C/O PAYPAL HOLDINGS, INC.

2211 NORTH FIRST STREET

(Street)

SAN JOSE CA 95131

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
PayPal Holdings, Inc. [ PYPL ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	VP, Chief Accounting Officer

3. Date of Earliest Transaction (Month/Day/Year)
07/31/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	07/31/2025		S		7,102	D	$69.3508	0	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

	By: Brian Yamasaki For: Chris Natali	08/01/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

How many PayPal (PYPL) shares did Chris Natali sell?

The filing reports a sale of 7,102 common shares.

At what price were the PYPL shares sold?

The average sale price was $69.3508 per share.

What is Chris Natali’s remaining PYPL shareholding?

After the transaction, the filing lists 0 shares directly owned.

When did the insider sale occur?

The transaction date was July 31, 2025.

Does the Form 4 reference a 10b5-1 trading plan?

No, the checkbox for a Rule 10b5-1(c) plan was not selected.