8-KLeadership ChangesExhibits & Filings

PayPal Holdings, Inc. 8-K Report, Executive Changes (Jun 3, 2024)

Filed June 3, 2024For Securities:PYPL

Summary

PayPal Holdings, Inc. (PYPL) announced on June 3, 2024, the appointment of Christopher Natali as its new Vice President, Chief Accounting Officer, effective June 20, 2024. This appointment brings significant experience in global accounting operations, external reporting, and financial diligence from his previous roles at Alteryx, Inc., and Hewlett Packard Enterprise (HPE). Mr. Natali's compensation package includes a base salary of $400,000, an annual target bonus of 45% of his base salary, a $1,000,000 sign-on bonus payable in installments, and a restricted stock unit (RSU) grant with a target value of $2,000,000. These arrangements are designed to attract and retain executive talent, with performance and retention conditions tied to the sign-on bonus and RSU vesting. Investors will likely monitor how Mr. Natali's expertise contributes to the company's financial reporting accuracy and stability.

Key Highlights

  • 1Appointment of Christopher Natali as Vice President, Chief Accounting Officer, effective June 20, 2024.
  • 2Mr. Natali brings extensive experience from Alteryx, Inc. (CAO, Interim CFO) and Hewlett Packard Enterprise (VP, Assistant Corporate Controller).
  • 3His responsibilities will include global accounting operations, external reporting, tax, treasury, and procurement.
  • 4Annual base salary of $400,000.
  • 5Eligible for an annual target bonus of 45% of base salary.
  • 6Receiving a $1,000,000 sign-on bonus and a $2,000,000 target value restricted stock unit (RSU) grant.
  • 7Compensation includes retention components and eligibility for executive change in control and severance plans.

Frequently Asked Questions

Christopher Natali has been appointed as PayPal's Vice President, Chief Accounting Officer, effective June 20, 2024. He is responsible for overseeing PayPal's global accounting operations, external reporting, tax, treasury, and procurement.

Mr. Natali will receive an annual base salary of $400,000, is eligible for an annual target bonus of 45% of his base salary, a $1,000,000 sign-on bonus (paid in installments with retention conditions), and a $2,000,000 target value restricted stock unit (RSU) grant with a phased vesting schedule.

Yes, Mr. Natali has significant experience. He previously served as Chief Accounting Officer and Interim Chief Financial Officer at Alteryx, Inc., and as Vice President, Assistant Corporate Controller at Hewlett Packard Enterprise, where he managed various critical financial functions including external reporting, M&A, and compliance.

The sign-on bonus is subject to clawback provisions if Mr. Natali resigns or is terminated for cause within specified periods. The RSU grant also vests over time, contingent upon his continued employment with PayPal.