PayPal Executive John Kim to Depart by March 31, 2025

PayPal, a leading online payments company, recently disclosed in an 8-K filing with the Securities and Exchange Commission that John Kim, the Executive Vice President and Chief Product Officer, will be leaving the company. The separation agreement between Kim and PayPal was entered into on January 20, 2025, stipulating his departure date as March 31, 2025.

As per the provisions outlined in PayPal Holdings, Inc.’s Executive Change in Control and Severance Plan, Kim’s separation qualifies him for various benefits associated with a “Qualifying Termination.” These benefits include severance pay, an Annual Incentive Plan bonus for fiscal year 2024, health benefits, equity award treatment, and outplacement services.

The agreement requires Kim to comply with restrictive covenants and release any claims against the company in exchange for the benefits provided. This development follows the disclosure made in a Plan previously filed with the SEC on July 25, 2024, as an exhibit to the company’s Form 8-K.

PayPal’s Executive Vice President section of Appendix A of the Plan defines the terms under which Kim is eligible for the benefits. The agreement highlights the company’s commitment to dealing with executive departures in a structured and beneficial manner for both parties involved.

On January 22, 2025, Brian Y. Yamasaki, Vice President, Corporate Legal and Secretary of PayPal Holdings, Inc., signed off on the 8-K filing as per regulatory requirements.

This move comes amidst the company’s ongoing efforts to ensure smooth transitions for its top executives and maintain operational efficiency. PayPal continues to navigate executive changes with a focus on sustaining its market positioning and operations.

As of the financial quarter ending in December 2024, PayPal is focused on strategic decisions to uphold its financial performance, operational stability, and market competitiveness within the online payment industry.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read PayPal’s 8K filing here.

PayPal Company Profile

PayPal Holdings, Inc operates a technology platform that enables digital payments on behalf of merchants and consumers worldwide. It operates a two-sided network at scale that connects merchants and consumers that enables its customers to connect, transact, and send and receive payments through online and in person, as well as transfer and withdraw funds using various funding sources, such as bank accounts, PayPal or Venmo account balance, PayPal and Venmo branded credit products comprising its installment products, credit and debit cards, and cryptocurrencies, as well as other stored value products, including gift cards and eligible rewards.