PayPal Holdings Inc.
06/28/2024 | Press release | Distributed by Public on 06/28/2024 14:39
Management Change/Compensation Form 8 K
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On June 25, 2024, the Board of Directors (the "Board") of PayPal Holdings, Inc. (the "Company") appointed Carmine Di Sibio as a new member of the Company's Board, effective July 1, 2024. Mr. Di Sibio fills a vacancy created by an increase in the size of the Board from 11 to 12, and his term of office will expire at the Company's 2025 annual meeting of stockholders or when his successor has been elected and qualified. As a non-employee director, Mr. Di Sibio will be entitled to receive compensation as described under "Director Compensation" in the Company's definitive proxy statement filed with the Securities and Exchange Commission on April 9, 2024. The Board has also appointed Mr. Di Sibio to the Audit, Risk and Compliance Committee of the Board, effective July 1, 2024.
There is no arrangement or understanding between Mr. Di Sibio and any other persons pursuant to which Mr. Di Sibio was appointed as a director. Furthermore, there are no transactions in which the Company was a participant and in which Mr. Di Sibio had an interest that would be required to be reported under Item 404(a) of Regulation S-K.