secwatch.observer — SEC 8-K summary
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Issuer:     PayPal Holdings, Inc. (PYPL)
CIK:        0001633917
Form:       8-K
Filed at:   2023-08-14T23:59:59+00:00
Accession:  0001193125-23-212353
Event type: leadership
Sentiment:  positive
Materiality: 0.75
Item codes: 5.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

PayPal names Intuit exec Alex Chriss as CEO, effective Sept 27, 2023
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- Alex Chriss, former Intuit SVP & GM of Small Business, appointed President & CEO, effective Sept 27, 2023; also joins Board.
- Dan Schulman resigns as CEO on Sept 27 but remains on Board until May 2024 annual meeting.
- Compensation: $1.25M base salary, 200% target bonus, plus equity grants totaling ~$43.75M in RSUs and PBRSUs.
- Chriss led Intuit's $12B Mailchimp acquisition and grew Small Business revenue 23% CAGR over 5 years.
- Board search committee unanimously supports Chriss; process was thorough and months-long.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1633917/000119312523212353/0001193125-23-212353-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1633917/000119312523212353/d475247d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-212353

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer