Try our mobile app

Published: 2021-05-28 16:31:45 ET
<<<  go to PYPL company page
8-K
false 0001633917 0001633917 2021-05-26 2021-05-26

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM 8-K

 

 

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): May 26, 2021

 

 

PayPal Holdings, Inc.

(Exact name of registrant as specified in its charter)

 

 

 

Delaware   001-36859   47-2989869
(State or other jurisdiction
of incorporation)		   (Commission
File Number)		   (I.R.S. Employer
Identification No.)

2211 North First Street

San Jose, CA 95131

(Address of principal executive offices)

(408) 967-1000

(Registrant’s telephone number, including area code)

Not Applicable

(Former name or former address, if changed since last report.)

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

☐

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

☐

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

☐

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

☐

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class

  

Trading
Symbol(s)

  

Name of each exchange
on which registered

Common stock, $0.0001 par value per share   PYPL   NASDAQ Global Select Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

 

 

Item 5.07. Submission of Matters to a Vote of Security Holders.

At the 2021 Annual Meeting of Stockholders of PayPal Holdings, Inc. (the “Company”) held on May 26, 2021 (the “Annual Meeting”), the stockholders:

 

  1.

Elected the 11 director nominees named in the Company’s 2021 Proxy Statement to serve as directors until the Company’s 2022 Annual Meeting of Stockholders or until their respective successors are elected and qualified;

 

  2.

Approved the advisory vote on the named executive officer compensation;

 

  3.

Ratified the appointment of PricewaterhouseCoopers LLP as the Company’s independent auditor for 2021;

 

  4.

Did not approve the stockholder proposal titled “Stockholder Right to Act by Written Consent”; and

 

  5.

Did not approve the stockholder proposal titled “Assessing Inclusion in the Workplace”.

Set forth below are the number of votes cast for or against, the number of abstentions, percentages for each and the number of broker non-votes with respect to each matter presented at the Annual Meeting.

Proposal 1: Election of Directors:

 

Director Nominees

   

Votes

For

   

%

For

   

Votes

Against

   

%

Against

   

Abstentions

   

%

Abstentions

   

Broker

Non-Votes

Rodney C. Adkins

    812,355,160    93.83    51,076,728    5.89    2,285,657    0.26    111,992,934

Jonathan Christodoro

    851,133,925    98.31    12,770,410    1.47    1,813,210    0.20    111,992,934

John J. Donahoe

    843,491,172    97.43    19,072,625    2.20    3,153,748    0.36    111,992,934

David W. Dorman

    835,097,083    96.46    28,332,051    3.27    2,288,411    0.26    111,992,934

Belinda J. Johnson

    862,473,437    99.62    1,513,354    0.17    1,730,754    0.19    111,992,934

Gail J. McGovern

    856,752,591    98.96    6,741,987    0.77    2,222,967    0.25    111,992,934

Deborah M. Messemer

    862,460,743    99.62    1,527,895    0.17    1,728,907    0.19    111,992,934

David M. Moffett

    853,947,332    98.64    9,969,343    1.15    1,800,870    0.20    111,992,934

Ann M. Sarnoff

    862,433,649    99.62    1,545,250    0.17    1,738,646    0.20    111,992,934

Daniel H. Schulman

    862,185,669    99.59    1,795,868    0.20    1,736,008    0.20    111,992,934

Frank D. Yeary

    862,275,901    99.60    1,623,326    0.18    1,818,318    0.21    111,992,934

Each of the 11 nominees were elected to the Board, each to hold office until the Company’s 2022 Annual Meeting of Stockholders or until their respective successors are elected and qualified.

Proposal 2: Advisory Vote to Approve Named Executive Officer Compensation:

 

Votes For:

      767,702,233        88.67 % 

Votes Against:

      94,877,691        10.95 % 

Abstentions:

      3,137,621        0.36 % 

Broker Non-Votes:

      111,992,934     

The proposal was approved.

Proposal 3: Ratification of the Appointment of PricewaterhouseCoopers LLP as the Company’s Independent Auditor for 2021:

 

Votes For:

      940,387,032        96.18 % 

Votes Against:

      34,636,165        3.54 % 

Abstentions:

      2,687,282        0.27 % 

Broker Non-Votes:

      n/a     

The appointment was ratified.

Proposal 4: Stockholder Proposal: Stockholder Right to Act by Written Consent:

 

Votes For:

      377,315,143        43.58 % 

Votes Against:

      485,894,169        56.12 % 

Abstentions:

      2,508,233        0.28 % 

Broker Non-Votes:

      111,992,934     

The proposal was not approved.

Proposal 5: Stockholder Proposal: Assessing Inclusion in the Workplace:

 

Votes For:

      101,314,258        11.70 % 

Votes Against:

      750,437,498        86.68 % 

Abstentions:

      13,965,789        1.61 % 

Broker Non-Votes:

      111,992,934     

The proposal was not approved.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

      PayPal Holdings, Inc.  
      (Registrant)  

Date: May 28, 2021

    

  /s/ Brian Y. Yamasaki

  
      Name: Brian Y. Yamasaki  
      Title: Vice President, Corporate Legal and Secretary