secwatch.observer — SEC 8-K summary
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Issuer:     PayPal Holdings, Inc. (PYPL)
CIK:        0001633917
Form:       8-K/A
Filed at:   2023-02-16T23:59:59+00:00
Accession:  0001633917-23-000038
Event type: leadership
Sentiment:  neutral
Materiality: 0.35
Item codes: 5.02
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1633917/000163391723000038/0001633917-23-000038-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1633917/000163391723000038/pypl-20220802.htm
  HTML page:      https://secwatch.observer/filing/0001633917-23-000038

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