05/07/2025 | Press release | Distributed by Public on 05/07/2025 04:07
Item 5.02. |
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
On May 6, 2025 (the "Confirmation Date"), the U.S. Senate confirmed Frank J. Bisignano as the Commissioner of the Social Security Administration and Mr. Bisignano resigned as Chairman and Chief Executive Officer and a director of Fiserv, Inc. (the "Company"). On such date, Michael P. Lyons, the President and CEO-Electof the Company, became Chief Executive Officer and a director of the Company and ceased to be President of the Company. In addition, on such date, Doyle R. Simons, the lead independent director of the Company, became non-executiveChairman of the Board of the Company. As of the Confirmation Date, Mr. Bisignano held 112,921 unvested performance share units ("PSUs") with respect to the 2023-2025 performance period and 83,899 unvested PSUs with respect to the 2024-2026 performance period. Based on the previously disclosed terms of the PSUs, the relevant performance multiplier, and pro-ratedvesting, 153,787 and 57,127 PSUs, respectively, vested on the Confirmation Date. Unvested PSUs as of the Confirmation Date were forfeited. Information regarding Mr. Lyons and the offer letter Mr. Lyons and the Company executed on January 22, 2025 is incorporated herein by reference to Item 5.02 of the Company's Current Report on Form 8-Kdated January 22, 2025 and filed by the Company with the U.S. Securities and Exchange Commission on January 23, 2025.