PROPOSAL3:VOTETOAPPROVEPAYPALHOLDINGS,INC.2015EQUITYINCENTIVEAWARDPLAN,ASAMENDEDANDRESTATED Increasing the NumberofSharesReservedforIssuanceundertheEquityPlan • financing and other capital raising transactions • co-development,co-marketing,profitsharing, (including sales of the Companysequity or debt joint venture or other similar arrangements; securities, factoring transactions); • economicvalue-addedmodelsorequivalent • productrevenuegrowth; metrics; • grossprofit; • debtreduction; PRO • financial ratios, including those measuring • reductionsin costs; XY S liquidity, activity, profitability or leverage, cost of T • year-endcash; A capital or assets under management; • workingcapitallevels,includingcash,inventory TEMENT • strategic partnershipsor transactions andaccountsreceivable; (including in-licensing and out-licensing of • researchanddevelopmentachievements; intellectual property, establishing relationships • operatingefficiencies;and with commercialentitieswithrespecttothe marketing,distributionand sale of the • employeeengagement/satisfactionmetrics. Companysproducts(includingwithgroup purchasingorganizations,distributorsandother vendors); Anyoftheabovecriteriamaybemeasuredwithrespecttous,oranysubsidiary,affiliate,orotherbusinessunitofours, either in absolute terms, terms of growth, or as comparedto any incrementalincreaseand as comparedto resultsof a peer group,andmaybecalculatedonaproformabasisorinaccordancewithGAAP.TheCompensationCommitteedefines themannerofcalculatingtheperformancecriteriaitselectstouseforsuchawards.Withregardtoaparticularperformance period, the CompensationCommitteewillhavethediscretiontoselectthelengthoftheperformanceperiod,thetypeof performance-basedawardstobegranted,andthegoalsthatwillbeusedtomeasuretheperformancefortheperiod. Unlessotherwiseprovidedinanawardagreement,tobeeligibleforaperformance-basedawardforanyperiod,a participantwill have to be employedby or providingservicesto the Companyon thedatetheperformance-basedawardis paid. Limitations on AwardstoIndividualParticipants Themaximumnumberofsharesthatmaybesubjecttooneormoreawardsgrantedtoanyoneparticipantpursuanttothe Equity Plan during any calendaryear is 2,000,000 shares,and the maximum amountthatmaybepaidincashtoany employeeduringanycalendaryearwithrespecttoanyperformance-basedawardis$3million.Themaximumvalueof awardsgrantedtonon-employeedirectorspursuanttotheEquityPlanduringanyfiscalyearis$600,000;provided, however,thatthelimitsetforthinthissentence(a)isincreasedto$1,200,000inthefiscalyearinwhich anon-employeedirectorcommencesserviceontheBoardand(b)doesnotapplytoawardsmadepursuantto anon-employeedirectorselectiontoreceiveanawardinlieuofalloraportionofacashretainerforserviceontheBoard or any committeethereunder. Prohibition on Repricing Exceptforadjustmentsdescribedin“AdjustmentstoSharesSubjecttotheEquityPlan”above,theCompensation Committeewillnot,withoutstockholderapproval,authorizetheamendmentofanyoutstandingawardtoreduceits purchasepricepershare,thereplacementorsubstitutionofanyawardforanawardhavingalesserpurchasepriceper share, or an offer to purchase any previously granted option or stock appreciationright for a payment in cash when the per shareexercisepriceexceedstheFairMarketValueoftheunderlyingshare. MinimumVesting SubjecttotheaccelerationofvestingaspermittedunderthetermsoftheEquityPlan,noportionofanyawardgranted undertheEquityPlanwillvestbeforetheone-yearanniversaryofthedateofgrant,exceptthatawardsthatresultinthe issuancetooneormoreparticipantsofupto5%ofthesharesofcommonstockwhichmaybeissuedortransferredunder theEquityPlanmaybegrantedwithoutregardtosuchminimumvestingprovisions. AwardsSubjecttoClawback AnyincentiveawardsgrantedundertheEquityPlan,andanycashorpropertydeliveredpursuanttoincentiveawards,are subjecttoforfeiture, recovery,or other action by PayPal as necessaryfor compliancewith any Companypolicyor as requiredbylaw. •2023ProxyStatement 91