PROXYSTATEMENTSUMMARY ProxyStatementSummary This summaryhighlightscertaininformationcontainedelsewhereinthisproxystatementforthe2023AnnualMeetingof PRO Stockholders(the“AnnualMeeting”).Thissummarydoesnotcontainalltheinformationthatyoushouldconsider,andyou shouldreadtheentireproxystatementcarefullybeforevoting. XY S T A 2023AnnualMeetingInformation TEMENT TIMEANDDATE PLACE RECORDDATE 8:00a.m.PacificTime Onlineatwww.virtualshareholdermeeting.com/PYPL2023. March30,2023 onMay24,2023 ThereisnophysicallocationfortheAnnualMeeting. ProposalstobeVotedonandBoardVotingRecommendations Proposal RecommendationoftheBoard Page 1 Election of the 12 Director Nominees Namedin this Proxy Statement FOR 12 eachofthenominees 2 AdvisoryVotetoApproveNamedExecutiveOfficerCompensation(“say-on-pay” FOR 49 vote) 3 ApprovalofthePayPalHoldings,Inc.2015EquityIncentiveAwardPlan,as FOR 85 AmendedandRestated 4 Ratification of the Appointmentof PricewaterhouseCoopersLLPasOur FOR 95 IndependentAuditorfor2023 5 StockholderProposal–ProvisionofServicesinConflictZones AGAINST 98 6 StockholderProposal–ReproductiveRightsandDataPrivacy AGAINST 100 7 StockholderProposal–PayPalTransparencyReports AGAINST 102 8 StockholderProposal–ReportonEnsuringRespectforCivilLiberties AGAINST 105 9 StockholderProposal–AdoptMajorityVoteStandardforDirectorElections AGAINST 107 Our2022KeyHighlights SoundFinancialandOperationalPerformance In 2022, we deliveredsolid financial and operatingresults across our key performancemetrics.This was accomplished duringachallengingperiodofmacroeconomicuncertainty,slowingecommercegrowthandgeopoliticalinstability.We endedtheyearwith435millionactiveconsumerandmerchantaccountsandourrevenueincreasedby8%to$27.5billion comparedto2021.In2022,weprocessed22.3billionpaymenttransactionsand$1.36trillionintotalpaymentvolume acrossourplatform,representingyear-over-yearincreasesof16%and9%,respectively.Wereturned$4.2billionto stockholdersthroughsharerepurchasesin2022,representingmorethan80%ofourfreecashflow.Importantly,wealso narrowedourfocusonkeystrategicinitiativesandidentifiedareastooperatemoreefficiently,reducingbothcostsand complexitythroughouttheorganization.Thesecombinedeffortsresultedinover$900millionofsavingsacrossboth transactionandnon-transactionrelatedexpenses,contributingtoareturntonon-GAAPoperatingmarginexpansionand non-GAAPearningspersharegrowthinthefourthquarterof2022. This progressis a direct result of our sharpenedfocus, responsibleinnovationand enhancedcost discipline,whichenable ustoexecuteonourcorestrategicpriorities.In2022,wecreatedbettercheckoutexperiences,enhancedourdigitalwallet, expandedourglobalpaylatersolutionsandgrewourunbrandedprocessingbusinesswithleadingmerchantsaroundthe globe. •2023ProxyStatement 3