PayPal (PYPL) Frank Keller Exercises RSUs; Shares Withheld

What Happened
Frank Keller, President, Checkout Solutions & PayPal, had restricted stock units (RSUs) convert into 10,321 shares on September 1, 2026 (3,418 + 6,903). The RSUs converted at an exercise/conversion price of $0.00 (typical for RSUs). To satisfy tax withholding, 5,709 of those shares were withheld at $52.66 per share, a withholding value of $300,664. Net shares issued to Keller after withholding were 4,612.

Key Details

• Transaction date: 2026-09-01; filing date: 2026-09-03 (no late filing indicated in the excerpt).
• Conversion entries: 3,418 and 6,903 RSUs converted to shares (exercise/conversion price $0.00).
• Tax withholding: 5,709 shares withheld at $52.66/share = $300,664 (reported as payment of tax liability).
• Net new shares to insider: 10,321 converted − 5,709 withheld = 4,612 shares retained.
• Shares owned after transaction: not specified in the provided excerpt.
• Relevant footnotes: (F1) shares withheld to satisfy tax withholding; (F2) each RSU equals one share; (F3/F5) RSU grants dated March 1, 2024 and March 1, 2025 with three‑year vesting schedules.

Context
This was a routine RSU vesting/conversion with share withholding to cover taxes (a common net settlement), not an open‑market sale or purchase. RSUs convert at no cost to the holder (exercise price $0.00); withholding simply addresses tax obligations and does not necessarily signal a view on the company’s stock.