Keller Frank 4

What Happened
Frank Keller, President, Checkout Solutions & PayPal, had restricted stock units (RSUs) convert into 10,321 shares of PayPal common stock on June 1, 2026. Of those, 5,709 shares were withheld to cover tax withholding obligations at $44.75 per share (total value withheld ≈ $255,478). The remaining 4,612 shares were delivered to Keller. The conversion shows $0.00 per-share exercise price, indicating RSU vesting rather than a cash option purchase.

Key Details

• Transaction date: June 1, 2026; Form 4 filed June 2, 2026 (timely filing).
• Converted/Acquired: 10,321 shares via derivative conversion (two entries: 3,418 and 6,903 shares) at $0.00.
• Withheld for taxes (Disposition code F): 5,709 shares at $44.75 for a total withholding amount of $255,478.
• Net shares delivered to insider after withholding: 4,612 shares.
• Shares owned after transaction: not disclosed in the provided filing details.
• Footnotes: the shares represent vested RSUs (each RSU = one share) from grants subject to three-year vesting schedules (grants dated March 1, 2024 and March 1, 2025) and the withholding was to satisfy tax liabilities.

Context

• This was a vesting/conversion of RSUs (derivative conversion), not an open-market sale or purchase. The $0.00 per-share exercise price is typical for RSU vesting; the company withheld shares to cover taxes (common practice).
• Withholding of shares for taxes (code F) is routine and does not necessarily indicate a change in the insider’s view of the company.