false 0001633917 0001633917 2025-01-20 2025-01-20

 

 

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): January 20, 2025

 

 

PayPal Holdings, Inc.

(Exact name of registrant as specified in its charter)

 

 

 

Delaware   001-36859   47-2989869

(State or other jurisdiction

of incorporation)

  

(Commission

File Number)

  

(I.R.S. Employer

Identification No.)

2211 North First Street

San Jose, CA 95131

(Address of principal executive offices)

(408) 967-7000

(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 January 20, 2025, PayPal, Inc. (collectively with PayPal Holdings, Inc. and PayPal, Inc.’s and PayPal Holdings, Inc.’s respective subsidiaries and affiliates the “Company”) and John Kim, the Company’s Executive Vice President, Chief Product Officer, entered into a Separation Agreement (the “Agreement”). Under the Agreement, Mr. Kim will depart from the Company on March 31, 2025.

Pursuant to the terms of the PayPal Holdings, Inc. Executive Change in Control and Severance Plan, as amended and restated (the “Plan”), previously filed with the SEC on July 25, 2024 as Exhibit 10.1 to the Company’s Current Report on Form 8-K, the circumstances of Mr. Kim’s separation from the Company qualify him for a severance pay benefit, Annual Incentive Plan (“AIP”) bonus treatment, health benefits, equity award treatment and outplacement services consistent with a “Qualifying Termination” (as defined in the Executive Vice President section of Appendix A of the Plan, by reason of subsection a.). The Agreement provides for the payment of a severance pay benefit, fiscal year 2024 AIP bonus, health benefits, equity award treatment and outplacement services under and in accordance with Appendix A of the Plan, in exchange for a release of claims, continuing compliance with restrictive covenants and other valuable consideration.

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: January 22, 2025

    

/s/ Brian Y. Yamasaki

    Name:   Brian Y. Yamasaki
    Title:   Vice President, Corporate Legal and Secretary
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Document and Entity Information
Jan. 20, 2025
Cover [Abstract]  
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Entity Central Index Key 0001633917
Document Type 8-K
Document Period End Date Jan. 20, 2025
Entity Registrant Name PayPal Holdings, Inc.
Entity Incorporation State Country Code DE
Entity File Number 001-36859
Entity Tax Identification Number 47-2989869
Entity Address, Address Line One 2211 North First Street
Entity Address, City or Town San Jose
Entity Address, State or Province CA
Entity Address, Postal Zip Code 95131
City Area Code (408)
Local Phone Number 967-7000
Written Communications false
Soliciting Material false
Pre Commencement Tender Offer false
Pre Commencement Issuer Tender Offer false
Security 12b Title Common stock, $0.0001 par value per share
Trading Symbol PYPL
Security Exchange Name NASDAQ
Entity Emerging Growth Company false
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