Keller Frank 4

What Happened
Frank Keller, President, Checkout Solutions & PayPal, had 1,639 restricted stock units (RSUs) convert into common stock on 2026-07-15 (reported as derivative exercises). Of those shares, 907 were withheld to satisfy tax withholding obligations (reported as a disposition) at an indicated value of $47.37 per share (total withheld value $42,965). Net shares delivered to Keller were 732 (1,639 vested − 907 withheld). The RSU conversion shows a $0 exercise price, consistent with RSU settlement rather than an option purchase.

Key Details

• Transaction date: 2026-07-15; filing date: 2026-07-16 (timely filing).
• Conversions: 1,639 RSUs converted to 1,639 shares (reported as derivative exercise, code M) at $0.00 exercise price.
• Tax withholding: 907 shares withheld (code F) at $47.37/share for a total of $42,965.
• Net shares delivered: 732 shares. Approximate total value of vested shares at $47.37 ≈ $77,639.
• Shares owned after transaction: Not stated in the provided filing details.
• Footnotes: F1 = shares withheld to satisfy tax withholding; F2 = each RSU equals one share; F3 = RSU grant subject to a three‑year vesting schedule. F4 not applicable.
• No 10b5-1 plan or late filing indicated in the provided data.

Context
This was an RSU vesting/settlement and tax-withholding event — not an open-market purchase or sale indicating directional trading sentiment. The derivative entries reflect conversion/settlement of RSUs (cashless/net-share withholding for taxes), a routine compensation event for executives.