Today, PayPal Holdings, Inc. filed a fourth amendment to its Form 10 with the U.S. Securities and Exchange Commission (SEC). This filing marks the next step in eBay Inc.’s plan to separate eBay and PayPal into two independent, publicly-traded companies.
The amendment discloses the distribution ratio for PayPal stock to eBay stock.
Additionally, the amendment outlines the updated PayPal Board committee composition and the compensation for PayPal’s Board of Directors.
The filing also includes details regarding European regulatory approvals. The European Central Bank (ECB) recently informed eBay that the proposed separation is subject to a new review process implemented by the EU. We have submitted our application to the Commission de Surveillance du Secteur Financier of Luxembourg (CSSF), which has made its assessment and forwarded its review of our application to the ECB.