Fiserv Director Celine Dufetel Defers Compensation into 775 Notional Stock Units

Executive Summary

On October 1, 2026, Fiserv, Inc. ($FISV) filed a Form 4 detailing an acquisition of equity-based instruments by Director Celine S. Dufetel. On September 30, 2026, Dufetel acquired 775 Deferred Compensation Notional Units at a reference price of $45.18 per share, representing approximately $35,000 of deferred director fees.

Transaction Analysis

• Nature of the Transaction: The acquisition was conducted under the Fiserv, Inc. Non-Employee Director Deferred Compensation Plan. Instead of receiving cash compensation for quarterly board service, director fees were credited into notional stock units.
• Economic Impact: Each notional unit mirrors one share of Fiserv common stock and is settled on a 1-for-1 basis in shares following the director's departure from board service. This directly aligns the director's compensation with long-term shareholder value.
• Ownership Post-Transaction: Following this credit, Dufetel directly holds 2,021 notional units.

Market and Governance Assessment

This transaction is categorized as Low trading significance, as it reflects a routine, programmatic election to receive board fees in deferred stock-equivalent units rather than discretionary open-market buying activity.