Keller Frank 4

What Happened

• Frank Keller, EVP and GM, Large Enterprise & Merchant Platform at PayPal, had 1,639 restricted stock units (RSUs) convert to common shares on April 15, 2026. Of those, 907 shares were withheld to satisfy tax withholding at $47.97 per share, totaling $43,509. The conversion shows an effective exercise/conversion price of $0 for the RSUs; after withholding Keller received a net 732 shares.
• This was a vesting/award event (receipt of shares) rather than an open-market purchase or deliberate sale. The withholding of shares for taxes is a routine administrative step, not necessarily a signal of insider sentiment.

Key Details

• Transaction date: 2026-04-15; Form filed: 2026-04-16 (timely).
• Conversion (code M): 1,639 RSUs converted to shares at $0.00.
• Tax withholding (code F): 907 shares withheld at $47.97/share = $43,509.
• Net shares delivered to insider: 732 (1,639 − 907).
• Footnotes: F1–F3 indicate shares were withheld to satisfy tax obligations and that each RSU equals one share; the grant vests over three years per the stated schedule.
• Shares owned after the transaction are not specified in the provided filing excerpt.

Context

• RSU conversion is essentially receipt of vested company stock (no cash outlay to exercise). The withheld shares cover tax obligations and are common in RSU vesting events (a cashless/withholding arrangement), not an open-market sale.
• Such administrative withholdings are routine and typically do not by themselves indicate an insider’s bullish or bearish view.