PROPOSAL3:VOTETOAPPROVEPAYPALHOLDINGS,INC.2015EQUITYINCENTIVEAWARDPLAN,ASAMENDEDANDRESTATED Increasing the NumberofSharesReservedforIssuanceundertheEquityPlan Totheextentpermittedbyapplicablelaw,theCompensationCommitteemaydelegatetoacommitteeofoneormoreof ourdirectorsoroneormoreofourofficerstheauthoritytograntoramendawardstoparticipantsotherthanourexecutives whoaresubjecttoSection16oftheExchangeAct.Pursuanttothisprovision,ourCompensationCommitteescurrent practiceis to delegateto our Chief ExecutiveOfficer, in his capacityas a Board member,the authorityto determineand makeindividualgrantstoouremployeeswhoarenotsubjecttoSection16oftheExchangeAct. PRO UnlessotherwisedeterminedbytheBoard,theCompensationCommitteewillconsistsolelyoftwoormoremembersof XY theBoard,eachofwhomisanon-employeedirectorundertheExchangeAct,andan“independentdirector”underthe S T rules of Nasdaq(or other principal securities market on which shares of our common stock are traded). A TEMENT Eligibility Awardsmaybegrantedtoemployees,directorsandconsultantsoftheCompanyandemployeesandconsultantsofany subsidiaryof the Company.Incentivestockoptionsmaybegrantedonlytoemployeeswho,asofthetimeofgrant,are employeesoftheCompanyoranysubsidiarycorporationoftheCompany.AsofMarch30,2023,therewereapproximately 29,000employees,including6executiveofficers,11non-employeedirectorsand14,800consultantseligibletobegranted awardsundertheEquityPlan.WhileconsultantstotheCompanyareeligibletoparticipateintheEquityPlan,asof March30,2023,theCompanyhasnotgrantedanyequityawardstoanyconsultantsandtheCompanyscurrentpracticeis to not grant equity awards to consultants. StockOptions Stockoptions,includingincentivestockoptionsasdefinedunderSection422oftheCodeandnon-qualifiedstockoptions, maybegrantedpursuanttotheEquityPlan.TheoptionexercisepriceofallstockoptionsgrantedpursuanttotheEquity Planwill not be less than 100% of the fair market value of a share on the date of grant. Stock options may be exercisedas determinedbytheCompensationCommittee,butinnoeventmayastockoptionhaveatermextendingbeyondtenyears fromthedateofgrant. Notwithstandingtheforegoing,incentivestockoptionsgrantedtoanypersonwhoowns,asofthedateofgrant,stock possessingmorethantenpercentofthetotalcombinedvotingpowerofallclassesofourstockwillhaveanexerciseprice that is not less than 110% of the fair market value of a share on the date of grant and may not have a term extending beyond thefifth anniversary of the date of grant. The aggregate fair market value of a share with respect to which options intended to be incentivestock options are exercisablefor the first time by an employee in any calendaryear may not exceed $100,000orsuchotheramountastheCodeprovides. TheCompensationCommitteehastheauthoritytodeterminethemethodsbywhichanoptionholdermaypaythe exercisepriceofanoptionortherelatedtaxes,including,withoutlimitation:(1) cash,(2) shares(including,in the caseof paymentoftheexercisepriceofanaward,sharesissuablepursuanttotheexerciseoftheaward)havingafairmarketvalue onthedateofdeliveryequaltotheaggregatepaymentsrequiredor(3)otherpropertyacceptabletotheCompensation Committee(includingthroughthedeliveryofanoticethattheawardholderhasplacedamarketsellorderwithabroker with respectto sharesthenissuableuponexerciseorvestingofanaward,andthatthebrokerhasbeendirectedtopaya sufficient portion of the net proceeds of the sale to us in satisfaction of the aggregate payments required; provided that paymentofsuchproceedsisthenmadetousuponsettlementofthatsale).NoparticipantwhoisamemberoftheBoard or an “executiveofficer” of the Companywithinthe meaningof Section13(k) of the ExchangeActwill be permittedto pay theexercisepriceofanoptioninanymethodwhichwouldviolatetheprohibitionsonloansmadeorarrangedbyusasset forth in Section 13(k) of the Exchange Act. RestrictedStockAwards RestrictedstockmaybegrantedpursuanttotheEquityPlan.Arestrictedstockawardisthegrantofsharesataprice,ifany, determinedbytheCompensationCommittee,thatisnontransferableandmaybesubjecttosubstantialriskofforfeiture until specific conditions are met. Conditions may be based on continuing employmentand/orachievingperformance goals. During the period of restriction, participants holding shares of restricted stock may have full voting and dividend rights with respect to such shares; provided, however, that any dividendswill be subject to the same vesting conditionsas theunderlyingsharesofrestrictedstock.Therestrictionswill lapsein accordancewitha scheduleorotherconditions determinedbytheCompensationCommittee. RestrictedStockUnits RSUsmaybegrantedpursuanttotheEquityPlan.AnRSUawardprovidesfortheissuanceofcommonstockatafuturedate uponthesatisfactionofspecificperformanceconditionsassetforthintheapplicableawardagreementand/orsubjectto continuingemploymentassetforthintheapplicableawardagreement.Thevestingandmaturitydateswillbeestablished at the time of grant and may provide for the deferral of receipt of the common stock beyond the vesting date. On or •2023ProxyStatement 89