secwatch.observer — SEC 8-K summary
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Issuer:     PayPal Holdings, Inc. (PYPL)
CIK:        0001633917
Form:       8-K
Filed at:   2024-07-25T23:59:59+00:00
Accession:  0001193125-24-184940
Event type: leadership
Sentiment:  neutral
Materiality: 0.60
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

John Donahoe resigns as PayPal Board Chair; Enrique Lores appointed effective July 23, 2024
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- John Donahoe resigned as Chair and Board member effective July 23, 2024; no disagreement cited.
- Board reduced size to 11 directors and appointed Enrique Lores (President/CEO of HP Inc.) as new Chair.
- Compensation Committee approved severance plan amendment reducing CEO multiple from 2x to 1.5x and EVP from 1.5x to 1x.
- Restated plan eliminates Good Reason trigger for EVPs outside CIC and removes prorated cash bonus for Non-CIC terminations.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1633917/000119312524184940/0001193125-24-184940-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1633917/000119312524184940/d809666d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-184940

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