PayPal Holdings, Inc 8-K/A, filed Apr 28, 2022
PayPal Holdings, Inc. (PYPL)
About this 8-K/A
PayPal Holdings, Inc filed this 8-K/A on April 28, 2022, reporting on events of April 6, 2022.
Items reported
- Item 5.02: Director or officer change, or executive pay
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
(Amendment No. 1)
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D)
OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): April 24, 2022 (
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Explanatory Note
| Item 5.02 | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
On April 24, 2022 (the “Approval Date”), in connection with the previously announced resignation of John D. Rainey as Chief Financial Officer and Executive Vice President, Global Customer Operations of the Company, the Compensation Committee of the Board of Directors of the Company approved a $100,000 cash transition bonus, which will be payable to Mr. Rainey within two and a half months following his employment termination date, subject to Mr. Rainey remaining continuously employed by the Company until May 23, 2022. Mr. Rainey’s cash transition bonus is intended to help incentivize Mr. Rainey to continue the transition of his duties through his employment termination date, uninterrupted by any time off including under the PayPal Sabbatical Plan.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| PayPal Holdings, Inc. | ||||||
| (Registrant) | ||||||
| Date: April 28, 2022 | By: | /s/ Brian Y. Yamasaki | ||||
| Name: | Brian Y. Yamasaki | |||||
| Title: | Vice President, Corporate Legal and Secretary | |||||