PayPal (PYPL) EVP Frank Keller nets new shares from RSU vesting
Rhea-AI Filing Summary
PayPal Holdings EVP Frank Keller exercised restricted stock units into common shares as part of a scheduled vesting. He converted 1,639 restricted stock units into 1,639 shares of common stock at a stated price of $0.00 per share. To cover tax obligations tied to this vesting, 907 shares of common stock were withheld at $47.97 per share, leaving a net of 732 shares added to his direct holdings. After these transactions, Keller directly holds 52,299 shares of PayPal common stock. The footnotes explain that each restricted stock unit equals one share of common stock and that the grant vests over three years, with 1/3 vesting after one year and 1/12 on each quarterly anniversary thereafter until fully vested.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Buyer: 732 shares
Net Buy
3 txns
Insider
Keller Frank
Role
EVP, GM, Large Ent & Mer Plat.
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Units -8 | 1,639 | $0.00 | $0.00 |
| Exercise | Common Stock | 1,639 | $0.00 | $0.00 |
| Exercise Price or Tax Liability | Common Stock | 907 | $47.97 | $44K |
Holdings After Transaction:
Restricted Stock Units -8 — 6,556 shares (Direct);
Common Stock — 52,299 shares (Direct)
Footnotes (4)
- F1. Represents shares withheld to satisfy tax withholding obligations in connection with the vesting of shares of restricted stock units granted to the reporting person.
- F2. Each restricted stock unit represents a contingent right to receive one share of PayPal's common stock.
- F3. The reporting person received a restricted stock unit grant subject to a three-year vesting schedule, vesting 1/3 on the one year anniversary of the grant date of the restricted stock unit award, and 1/12 on each quarterly anniversary of the grant date thereafter until the third anniversary of the grant date, on which date the grant shall be fully vested. Upon vesting, the reporting person will receive a number of shares of common stock equal to the number of restricted stock units that have vested.
- F4. Not applicable.
Key Figures
RSUs exercised: 1,639 units/shares
Shares withheld for taxes: 907 shares
Tax withholding price: $47.97 per share
+5 more
8 metrics
RSUs exercised
1,639 units/shares
Restricted stock units converted to common stock
Shares withheld for taxes
907 shares
Withheld at $47.97 per share to satisfy tax obligations
Tax withholding price
$47.97 per share
Value applied to 907 withheld shares
Net shares added
732 shares
1,639 vested minus 907 withheld for taxes
Post-transaction holdings
52,299 shares
Direct PayPal common stock held by Frank Keller after transactions
Vesting schedule duration
3 years
RSU grant vests over three years per footnote
Initial vesting portion
1/3 of grant
Vests on first anniversary of grant date
Ongoing vesting portions
1/12 quarterly
Vests each quarterly anniversary until third year
Key Terms
restricted stock unit, tax withholding obligations, vesting schedule, derivative security, +1 more
5 terms
restricted stock unit financial
"The reporting person received a restricted stock unit grant subject to a three-year vesting schedule"
A restricted stock unit is a promise from a company to give an employee shares of stock after certain conditions are met, like staying with the company for a set amount of time. It’s like earning a bonus that turns into company stock once you’ve proven your commitment, making it a way to motivate and reward employees.
tax withholding obligations financial
"shares withheld to satisfy tax withholding obligations in connection with the vesting"
vesting schedule financial
"subject to a three-year vesting schedule, vesting 1/3 on the one year anniversary"
A vesting schedule is a timeline that determines when someone gains full ownership of certain benefits, such as company stock or retirement contributions. Think of it like earning the right to own a gift gradually over time, rather than receiving it all at once. It matters to investors because it affects when they can fully access or sell these benefits, influencing their financial planning and decision-making.
derivative security financial
"Exercise or conversion of derivative security"
A derivative security is a financial contract whose value comes from the price or performance of something else, such as a stock, bond, commodity, or market index. For investors it acts like an insurance policy or a wager: it can be used to protect against losses, lock in prices, or amplify gains and losses, so it can change a portfolio’s risk and potential return without owning the underlying asset directly.
payment of exercise price or tax liability by delivering securities financial
"Payment of exercise price or tax liability by delivering securities"
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What did PayPal (PYPL) executive Frank Keller report in this Form 4?
Frank Keller reported the vesting and exercise of 1,639 restricted stock units into common shares. A portion of the resulting shares was withheld to cover tax obligations, and his direct PayPal common stock holdings increased to 52,299 shares after these routine compensation-related transactions.
How many PayPal (PYPL) restricted stock units did Frank Keller vest and exercise?
Frank Keller exercised 1,639 restricted stock units, each representing one share of PayPal common stock. These units vested under a pre-defined three-year vesting schedule described in the footnotes, converting into 1,639 common shares before any tax withholding was applied on the vesting date.
How does Frank Keller’s PayPal (PYPL) restricted stock unit vesting schedule work?
The restricted stock unit grant to Frank Keller vests over three years. One-third vests on the first anniversary of the grant date, then one-twelfth vests on each quarterly anniversary, so the grant becomes fully vested on the third anniversary, delivering common shares as each portion vests.
Was this PayPal (PYPL) Form 4 an open-market stock purchase or sale?
This Form 4 reflects option-like restricted stock unit exercises and tax withholding, not open-market trading. Shares were issued at $0.00 per share upon vesting, and 907 shares were disposed of solely to cover tax liabilities, rather than through a discretionary market sale or purchase.