false 0001633917 0001633917 2025-03-10 2025-03-10

 

 

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): March 10, 2025

 

 

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) 967-7000

(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 5.02.

Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

Board of Directors

On March 10, 2025, the Board of Directors (the “Board”) of PayPal Holdings, Inc. (the “Company”) appointed Joy Chik as a new member of the Company’s Board, effective March 10, 2025. Ms. Chik currently serves as the President of Identity and Network Access at Microsoft. Ms. Chik fills a vacancy created by an increase in the size of the Board from 11 to 12. As a non-employee director, Ms. Chik will be entitled to receive compensation as described under “Director Compensation” in the Company’s definitive proxy statement filed with the Securities and Exchange Commission on April 9, 2024. The Board has also appointed Ms. Chik to the Audit, Risk and Compliance Committee of the Board, effective March 10, 2025.

There is no arrangement or understanding between Ms. Chik and any other persons pursuant to which Ms. Chik was appointed as a director. Furthermore, there are no transactions in which the Company was a participant and in which Ms. Chik had an interest that would be required to be reported under Item 404(a) of Regulation S-K.

A copy of the press release issued by the Company regarding the election of Ms. Chik to its Board is attached as Exhibit 99.1 to this Current Report on Form 8-K.

 

Item 9.01.

Financial Statements and Exhibits.

(d) Exhibits

 

Exhibit
Number		    Exhibit Title or Description
99.1    Press Release dated March 10, 2025
104    Cover Page Interactive Data File (embedded within the Inline XBRL document)

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: March 10, 2025    

/s/ Brian Y. Yamasaki

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

Exhibit 99.1

Joy Chik to Join PayPal’s Board of Directors

SAN JOSE, Calif., March 10, 2025 /PRNewswire/ — PayPal Holdings, Inc. (NASDAQ: PYPL) today announced that Joy Chik has joined the company’s Board of Directors. Joy brings more than 26 years of corporate and board experience scaling products, services, and teams on a global level. Joy currently serves as the President of Identity and Network Access at Microsoft and is responsible for leading the company’s multi-billion-dollar security business, Microsoft Entra.

“PayPal is aiming to radically change commerce over the next decade by increasing our velocity of innovation and accelerating our integration of artificial intelligence across our product suite and the global enterprise,” said Alex Chriss, President and CEO, PayPal. “Joy is an expert in technology and AI, and her counsel as a new member of the Board will help us harness cutting-edge technology as we deliver transformative solutions and personalized experiences to our hundreds of millions of customers worldwide.”

“We are excited to welcome Joy to our Board of Directors,” said Enrique Lores, Chair of PayPal’s Board of Directors. “Joy brings extensive experience in AI, identity, and security that will be beneficial as the Board and management team drive PayPal’s growth and innovation.”

“I’m thrilled to be joining PayPal’s Board of Directors at this exciting moment in the company’s history,” said Chik. “With the strategic shift from payments platform to full-stack commerce API, PayPal has significant runway to advance the company’s mission and deliver significant shareholder value. I’m looking forward to working alongside Alex, Enrique, and the entire PayPal Board of Directors.”

Drawing on her extensive career in the technology sector, Joy advises executives at global Fortune 500 companies, as well as U.S. and international government agencies, on digital transformation and cybersecurity. Her board experience includes both public companies and nonprofits, having previously served on the Sierra Wireless Board of Directors and currently serving as a member of the Board of Trustees for AnitaB.org since 2016.

About PayPal

PayPal has been revolutionizing commerce globally for more than 25 years. Creating innovative experiences that make moving money, selling, and shopping simple, personalized, and secure, PayPal empowers consumers and businesses in approximately 200 markets to join and thrive in the global economy. For more information, visit https://www.paypal.com, https://about.pypl.com, and https://investor.pypl.com.

Investor Relations Contact:

investorrelations@paypal.com

Media Relations Contact:

mediarelations@paypal.com

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