PayPal's Outgoing CEO Dan Schulman Got A Significant Pay Cut for FY22, Down 32% To $22M

PayPal Holdings, Inc PYPL granted $22.0 million to CEO Dan Schulman as CEO pay for FY22, down from $32.1 million a year ago.
In February, Dan Schulman shared his plans to retire as CEO at year-end. The board has formed a CEO search committee and retained a search firm to help identify Schulman’s successor.
PayPal acknowledged Schulman for providing strategic leadership and leading the company through a challenging period of macroeconomic uncertainty, geopolitical instability, slowing e-commerce growth, and a return to pre-pandemic consumer behaviors.
Also Read: How Much Stock Did Amazon Chief Andy Jassy Get Awarded In FY22? The Answer Is Surprising
PayPal failed to meet targets it set for critical metrics, including revenue, adjusted operating margin, and net new active users, the board compensation committee said.
At its annual meeting in May, PayPal will face a series of shareholder proposals related to its practices, as well as Bloomberg reports.
Tara Health Foundation urged shareholders to vote in favor of a proposal requiring PayPal to report on its work to fulfill requests from law enforcement officials looking to enforce state laws that criminalize abortions.
Another proposal would force the company to explain its decision-making process behind account suspensions and closures, noting the company has been accused of banning legal sex workers’ access to PayPal services.
In February, PayPal reported fourth-quarter revenue growth of 7% year-over-year to $7.38 billion, which missed average analyst estimates of $7.39 billion.
The quarterly earnings of $1.24 per share beat consensus estimates of $1.20.
Price Action: PYPL shares traded lower by 0.42% at $75.20 premarket on the last check Friday.

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