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

Rhea-AI Filing Summary

Suzan Kereere, President, Global Markets at PayPal Holdings (PYPL), reported sales of common stock on 08/19/2025 under a pre-existing Rule 10b5-1 trading plan adopted March 7, 2025. The Form 4 shows two dispositions: 3,832 shares sold at a weighted average price of $69.3101 (trade range $69.00–$69.86) and 330 shares sold at a weighted average price of $70.2915 (trade range $70.24–$70.33). After these transactions she beneficially owned 48,483 shares, down from 48,813 immediately prior to the reported trades. The filing was signed on 08/20/2025.

Positive

• Sales executed under a Rule 10b5-1 plan, which supports compliance and reduces concerns about opportunistic insider trading
• Complete disclosure of weighted-average prices and price ranges for the reported trades, enhancing transparency

Negative

• Disposition of 4,162 shares (3,832 + 330) on 08/19/2025 reduced beneficial holdings from 48,813 to 48,483 shares
• No information on aggregate proceeds is provided in the filing, so exact cash impact is not disclosed

Insights

Securities Analyst

TL;DR: Insider sales were executed under a Rule 10b5-1 plan, indicating pre-planned disposals rather than opportunistic trades.

The Form 4 discloses routine sales totaling 4,162 shares executed on 08/19/2025 under a 10b5-1 plan adopted March 7, 2025. The weighted average prices reported ($69.3101 and $70.2915) reflect execution across narrow intraday ranges. For investors, such sales typically signal liquidity management rather than new material company developments because they follow an established trading plan; the remaining beneficial ownership (~48.5k shares) remains modest relative to institutional holdings in a large-cap issuer. No derivative transactions or additional changes to ownership structure were reported.

Corporate Governance Expert

TL;DR: The 10b5-1 plan use reduces regulatory risk and supports compliance transparency for insider activity.

Reporting that the trades were made pursuant to a Rule 10b5-1 plan (adopted March 7, 2025) is an important governance detail because it establishes an affirmative defense to insider trading claims if plan conditions are met. The disclosure is complete for the reported non-derivative sales and includes weighted-average price ranges. There is no indication of amendments, derivative activity, or joint filings. From a governance perspective, the filing aligns with best practices for pre-scheduled insider dispositions.

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
Estimated average burden
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).

X

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^*

Kereere Suzan

(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)
	President, Global Markets

3. Date of Earliest Transaction (Month/Day/Year)
08/19/2025

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	08/19/2025		S		3,832	D	$69.3101(1)	48,813	D
Common Stock	08/19/2025		S		330	D	$70.2915(2)	48,483	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:

1. Represents the weighted average price of shares sold at prices that ranged from $69.0000 to $69.8600.

2. Represents the weighted average price of shares sold at prices that ranged from $70.2400 to $70.3300.

Remarks:

The transactions on this Form 4 were made pursuant to a Rule 10b5-1 plan adopted on March 7, 2025.

	By: Brian Yamasaki For: Suzan Kereere	08/20/2025
	** 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.
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FAQ

What did Suzan Kereere report on Form 4 for PYPL?

She reported sales of 3,832 shares and 330 shares on 08/19/2025 under a Rule 10b5-1 plan, leaving her with 48,483 beneficially owned shares.

Were these trades part of a pre-planned program?

Yes. The filing states the transactions were made pursuant to a Rule 10b5-1 plan adopted on March 7, 2025.

What prices were the PYPL shares sold at?

Weighted-average prices: $69.3101 (range $69.00–$69.86) for the larger lot and $70.2915 (range $70.24–$70.33) for the smaller lot.

Did the Form 4 show any derivative transactions?

No. Table II lists no derivative securities; only non-derivative common stock sales are reported.

When was the Form 4 signed and filed?

The form was signed on 08/20/2025 by Brian Yamasaki on behalf of Suzan Kereere.