Fiserv, Inc. Form 8-K Summary
Business Context and Reporting Period
This Current Report on Form 8-K was filed by Fiserv, Inc. on June 15, 2026, reporting events occurring on June 12 and June 14, 2026. The filing addresses significant changes in executive leadership, specifically the resignation of the Chief Executive Officer (CEO) and the appointment of a successor.
Key Financial Metrics
The filing does not provide operational financial metrics such as revenue, profit, cash flow, margins, debt, or liquidity. The document focuses exclusively on executive compensation arrangements and personnel changes.
Material Changes
- CEO Resignation: Michael P. Lyons resigned as CEO and Director effective June 12, 2026. The resignation was not due to any disagreement with the Company. He received only accrued but unpaid base salary with no severance, accelerated equity vesting, or other benefits.
- CEO Appointment: Takis Georgakopoulos was appointed CEO and Director on June 14, 2026. He previously served as Co-President, Head of Merchant and Technology, and Chief Operating Officer.
- Executive Title Update: Dhivya Suryadevara's title was updated to President of the Company.
- Compensation Adjustments:
- CEO (Georgakopoulos): Annual base salary of $1,300,000; target cash incentive of 200% of base; annual equity opportunity of $18,600,000 (60% PSUs, 40% RSUs). Additionally, received $6,000,000 in "Promotion Equity Awards" (60% PSUs, 40% RSUs). Severance entitlement increased to 2.0x base salary and target cash incentive.
- CFO (Todd): Received $5,000,000 in RSUs as consideration for waiving the right to resign for "Good Reason" following the CEO's departure.
Guidance, Outlook, and Risks
The filing contains no financial guidance, outlook, or management commentary regarding future business performance. The primary risk disclosed relates to the transition of leadership and the associated compensation commitments. The filing notes that the press release regarding these events is furnished and not deemed "filed" for liability purposes under Section 18 of the Exchange Act.
Investor Verification Checklist
- Verify the terms of the "Georgakopoulos Offer Letter" (Exhibit 10.1) regarding performance goals for the $18.6 million annual equity award.
- Confirm the vesting schedule and performance conditions for the $6 million "Promotion Equity Awards."
- Review the "Todd Letter Agreement" (Exhibit 10.2) to understand the specific waiver of "Good Reason" resignation rights.
- Check subsequent filings for the Board's composition following Mr. Lyons' resignation.