---
schema_version: "secwatch.filing_event.v1"
accession: "0001633917-23-000038"
form_type: "8-K/A"
ticker: "PYPL"
cik: "0001633917"
company_name: "PayPal Holdings, Inc."
filed_at: "2023-02-16T23:59:59+00:00"
generated_at: "2026-06-19T09:32:43.658098+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.35
calibrated_materiality_score: 0.35
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001633917-23-000038
- form_type: 8-K/A
- ticker: PYPL
- cik: 0001633917
- company_name: PayPal Holdings, Inc.
- filed_at: 2023-02-16T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.35
- calibrated_materiality_score: 0.35
- confidence: high
- sec_items: 5.02
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1633917/000163391723000038/0001633917-23-000038-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1633917/000163391723000038/pypl-20220802.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001633917-23-000038
- JSON: https://secwatch.observer/filing/0001633917-23-000038.json
- Plain text: https://secwatch.observer/filing/0001633917-23-000038.txt

## Key facts
- Executive change
  Mark Britto departed as Chief Product Officer at PayPal Holdings, Inc..
  - Action: stepped down
  - Role: Chief Product Officer
  source text: Mr. Britto is now expected to remain employed by the Company until February 28, 2023, at which time his position will be eliminated.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1633917/000163391723000038/0001633917-23-000038-index.htm
- Executive change
  John Kim was appointed as Chief Product Officer at PayPal Holdings, Inc..
  - Action: appointed
  - Role: Chief Product Officer
  source text: On September 8, 2022, the Company announced that it had appointed John Kim to serve as Chief Product Officer, effective September 26, 2022.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1633917/000163391723000038/0001633917-23-000038-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.