PayPal enters separation agreement with former CPO Mark Britto; severance details disclosed

PayPal Holdings, Inc.

Mark Britto to depart Feb 28, 2023; John Kim appointed CPO effective Sep 26, 2022.
Severance includes cash payment of $2,531,250 (1.5x base salary + target incentive).
Prorated 2023 bonus based on actual company performance; accelerated vesting of pre-July 2021 RSUs.
COBRA coverage for 12 months; additional vesting subject to restrictive covenants compliance.

item 5.02

Executive movements

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Departed

Mark Britto

Chief Product Officer

PYPL · PayPal Holdings, Inc.

Effective: 2023-02-28
Successor: John Kim
Filed: February 16, 2023, 6:59 PM ET

Mr. Britto is now expected to remain employed by the Company until February 28, 2023, at which time his position will be eliminated.

Appointed

John Kim

Chief Product Officer

PYPL · PayPal Holdings, Inc.

Effective: 2022-09-26
Filed: February 16, 2023, 6:59 PM ET

On September 8, 2022, the Company announced that it had appointed John Kim to serve as Chief Product Officer, effective September 26, 2022.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Mark Britto departed as Chief Product Officer at PayPal Holdings, Inc..

Action: stepped down
Role: Chief Product Officer

Exact text from the filing

Mr. Britto is now expected to remain employed by the Company until February 28, 2023, at which time his position will be eliminated.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

John Kim was appointed as Chief Product Officer at PayPal Holdings, Inc..

Action: appointed
Role: Chief Product Officer

Exact text from the filing

On September 8, 2022, the Company announced that it had appointed John Kim to serve as Chief Product Officer, effective September 26, 2022.

View on SEC.gov

PayPal Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001633917-23-000038

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