Gill Michelle 4

What Happened

• Michelle Gill, EVP & GM, SMB & Financial Services at PayPal, had restricted stock units (RSUs) convert into 12,005 shares on 2026-03-15 (exercise/conversion of derivative, code M).
• To satisfy tax withholding obligations, 5,836 of those shares were withheld/disposed at $44.90 per share for a total withholding value of $262,036 (code F). Net shares retained from the vesting event: 12,005 − 5,836 = 6,169 shares.
• This was not an open-market sale or purchase of stock by the insider; it is a routine vesting and tax-withholding transaction.

Key Details

• Transaction date: March 15, 2026. Filing date: March 17, 2026 (filed timely).
• Acquisition: 12,005 shares from RSU conversion at $0 exercise price (codes M).
• Disposal/withholding: 5,836 shares withheld at $44.90/share = $262,036 (code F).
• Shares owned after transaction: Not reported in the Form 4; net shares received from this vesting = 6,169.
• Relevant footnotes: F1 = shares withheld to satisfy tax withholding; F2 = each RSU converts to one share; F3 = RSU grant dated 12/15/2023 with a three-year vesting schedule; F4 = not applicable.
• Transaction codes explained: M = exercise/conversion of derivative (RSU vesting); F = shares withheld for tax obligations.

Context

• This was a vesting event (RSUs converting to common stock) with share withholding for taxes — a routine administrative transaction, not a discretionary open‑market sale or purchase.
• For retail investors, such transactions mainly reflect compensation vesting; they do not necessarily indicate the insider’s view on the stock.