XML 51 R2.htm IDEA: XBRL DOCUMENT

Pay vs Performance Disclosure - USD ($)

6 Months Ended

12 Months Ended

Dec. 31, 2020

Jun. 30, 2020

Dec. 31, 2023

Dec. 31, 2022

Dec. 31, 2021

Dec. 31, 2020

Pay vs Performance Disclosure

Pay vs Performance Disclosure, Table

Pay Versus Performance

Pay Versus Performance Table

The table below presents named executive officer compensation and company performance information as required by applicable Securities and Exchange Commission rules.

	Year			Summary Compensation Table Total for PEO⁽¹⁾ (Bisignano)			Compensation Actually Paid to PEO^(1)(2)(3) (Bisignano)			Summary Compensation Table Total for PEO⁽¹⁾ (Yabuki)			Compensation Actually Paid to PEO⁽¹⁾⁽²⁾ (Yabuki)			Average Summary Compensation Table Total for Non-PEO NEOs⁽³⁾			Average Compensation Actually Paid to Non-PEO NEOs⁽²⁾⁽³⁾			Value of Initial Fixed $100 Investment Based on⁽⁴⁾						Net Income Attributable to Fiserv ($MM)			Adjusted Revenue for Incentive Compensation (MM)⁽⁵⁾
	Year			Summary Compensation Table Total for PEO⁽¹⁾ (Bisignano)			Compensation Actually Paid to PEO^(1)(2)(3) (Bisignano)			Summary Compensation Table Total for PEO⁽¹⁾ (Yabuki)			Compensation Actually Paid to PEO⁽¹⁾⁽²⁾ (Yabuki)						Average Compensation Actually Paid to Non-PEO NEOs⁽²⁾⁽³⁾			Total Shareholder Return (“TSR”)			Peer Group TSR			Net Income Attributable to Fiserv ($MM)			Adjusted Revenue for Incentive Compensation (MM)⁽⁵⁾
	2023			$ 27,943,757			$ 59,853,233									$ 7,602,539			$ 11,007,287			$ 115			$ 133			$ 3,068			$ 18,039
	2022			17,822,560			21,329,135			—			—			5,038,732			5,802,524			87			119			2,530			16,732
	2021			20,385,208			10,747,601			—			—			7,859,651			6,677,144			90			133			1,334			15,354
	2020			12,193,925			2,858,361			$ 28,846,153			$ 19,687,211			4,191,368			1,232,786			98			98			958			13,902

(1)	Mr. Yabuki served as PEO for the first half of 2020 and Mr. Bisignano served as PEO for the second half of 2020 and for all of 2021, 2022 and 2023.

(2)

Amounts shown for compensation actually paid are computed in accordance with Item 402(v) of Regulation S-K and do not reflect the actual amount of compensation realized by the NEOs during the applicable year. Compensation actually paid reflects exclusions and inclusions from the summary compensation table (“SCT”) total as set forth in the tables below.

(3)	The non-PEO NEOs reflected in these columns represent the following individuals for each of the years shown. In 2020, these individuals were Messrs. Chiarello, Hau, McGranahan, and Vielehr. In 2021, 2022 and 2023, these individuals were Messrs. Chiarello, Hau and Rosman, and Ms. Kereere.

(4)

Assumes $100 invested in our common shares on December 31, 2019.The peer group used by the company is the S&P 500 Financials Index (the “Peer Index”), which is the same index used in the company’s performance graph reported in Part II, Item 5 of its annual report on Form 10-K for the fiscal year ended December 31, 2023. In connection with the transfer of the listing of our common stock to the New York Stock Exchange from the NASDAQ Global Select Market in 2023, we believe the S&P 500 Financials Index is a more appropriate published industry index for comparison purposes going forward as it contains a number of our peers. The table below compares the cumulative TSR of both groups for 2020 through 2023.

Value of Initial Fixed $100 Investment Based on:

	Year			NASDAQ US Benchmark Transaction Processing Services Index			S&P 500 Financials Index
	2023			$ 122			$ 133
	2022			100			119
	2021			128			133
	2020			134			98

(5)

We determined adjusted revenue for incentive compensation to be the most important financial measure used to link company performance to compensation actually paid for 2023. We selected adjusted revenue for incentive compensation because we believe that the long-term value of our enterprise depends on our ability to generate revenue excluding the impact of our Output Solutions postage reimbursements, deferred revenue purchase accounting adjustments and acquired revenue. A discussion of how adjusted revenue for incentive compensation is calculated from GAAP revenue is provided in Appendix A to this proxy statement.

Calculation of Principal Executive Officer Compensation Actually Paid

				Mr. Bisignano
				2023			2022			2021			2020
	Summary Compensation Table Total⁽¹⁾			$ 27,943,757			$ 17,822,560			$20,385,208			$ 12,193,925
	Deduct amount reported for stock and option awards in the SCT⁽²⁾			(23,252,867)			(16,210,972)			(16,120,519)			(11,200,076)
	Add year-end fair value of awards granted during the fiscal year that are outstanding and unvested as of the end of the fiscal year⁽³⁾			36,387,241			20,127,968			18,853,852			11,466,300
	Change in fair value as of the vesting date (from the prior year end) for vested awards granted in any prior year⁽³⁾			2,997,666			1,203,552			(1,182,658)			(5,063,077)
	Change in fair value as of fiscal year end (from the prior year end) for unvested and outstanding awards granted in any prior year⁽³⁾			15,777,434			(1,613,973)			(11,188,283)			(4,538,711)
	Compensation Actually Paid			$59,853,233			$21,329,135			$10,747,601			$2,858,361

(1)	Reflects the total compensation reported in the SCT for each year shown.

(2)	Reflects the grant date fair value of the awards granted in the respective years under the Incentive Plan. Information about the assumptions that we used to determine the fair value of equity awards is set forth in

our Annual Report on Form 10-K in Note 16 to our Consolidated Financial Statements for the year ended December 31, 2023.

(3)	The valuation assumptions used to calculate the fair values did not differ materially from those disclosed at the time of grant.

Calculation of Average Non-Principal Executive Officer Compensation Actually Paid

				2023			2022			2021			2020
	Average Summary Compensation Table Total⁽¹⁾			$7,602,539			$5,038,732			$7,859,651			$4,191,368
	Deduct average amount reported for stock and option awards in the SCT⁽²⁾			(5,991,705)			(4,242,754)			(4,796,487)			(3,575,048)
	Add year-end average fair value of awards granted during the fiscal year that are outstanding and unvested as of the end of the fiscal year⁽³⁾			6,975,641			5,267,468			5,040,055			3,691,336
	Average change in fair value as of the vesting date (from the prior year end) for vested awards granted in any prior year⁽³⁾			496,504			(120,416)			(85,895)			(1,684,428)
	Average change in fair value as of fiscal year end (from the prior year end) for unvested and outstanding awards granted in any prior year⁽³⁾			3,005,043			(140,508)			(1,340,180)			(1,390,441)
	Fair value as of prior year end of stock and option awards (from the prior year end) that failed to meet applicable vesting conditions during the fiscal year⁽³⁾			(1,080,735)
	Average Compensation Actually Paid			$ 11,007,287			$ 5,802,524			$ 6,677,144			$ 1,232,786

(1)	Reflects the average of the total compensation reported in the SCT for the non-PEO NEOs in each year shown.

(2)	Reflects the grant date fair value of awards granted in the respective years under the Incentive Plan. All equity amounts in the table are the average of the non-PEO NEO totals. Information about the assumptions that we used to determine the fair value of equity awards is set

forth in our Annual Report on Form 10-K in Note 16 to our Consolidated Financial Statements for the year ended December 31, 2023.

(3)	The valuation assumptions used to calculate the fair values of awards did not differ materially from those disclosed at the time of grant.

Company Selected Measure Name

Adjusted Revenue for Incentive Compensation

Named Executive Officers, Footnote

(1)	Mr. Yabuki served as PEO for the first half of 2020 and Mr. Bisignano served as PEO for the second half of 2020 and for all of 2021, 2022 and 2023.

(3)	The non-PEO NEOs reflected in these columns represent the following individuals for each of the years shown. In 2020, these individuals were Messrs. Chiarello, Hau, McGranahan, and Vielehr. In 2021, 2022 and 2023, these individuals were Messrs. Chiarello, Hau and Rosman, and Ms. Kereere.

Peer Group Issuers, Footnote

(4)

Assumes $100 invested in our common shares on December 31, 2019.The peer group used by the company is the S&P 500 Financials Index (the “Peer Index”), which is the same index used in the company’s performance graph reported in Part II, Item 5 of its annual report on Form 10-K for the fiscal year ended December 31, 2023. In connection with the transfer of the listing of our common stock to the New York Stock Exchange from the NASDAQ Global Select Market in 2023, we believe the S&P 500 Financials Index is a more appropriate published industry index for comparison purposes going forward as it contains a number of our peers. The table below compares the cumulative TSR of both groups for 2020 through 2023.

Value of Initial Fixed $100 Investment Based on:

	Year			NASDAQ US Benchmark Transaction Processing Services Index			S&P 500 Financials Index
	2023			$ 122			$ 133
	2022			100			119
	2021			128			133
	2020			134			98

Changed Peer Group, Footnote

(4)

Assumes $100 invested in our common shares on December 31, 2019.The peer group used by the company is the S&P 500 Financials Index (the “Peer Index”), which is the same index used in the company’s performance graph reported in Part II, Item 5 of its annual report on Form 10-K for the fiscal year ended December 31, 2023. In connection with the transfer of the listing of our common stock to the New York Stock Exchange from the NASDAQ Global Select Market in 2023, we believe the S&P 500 Financials Index is a more appropriate published industry index for comparison purposes going forward as it contains a number of our peers. The table below compares the cumulative TSR of both groups for 2020 through 2023.

Value of Initial Fixed $100 Investment Based on:

	Year			NASDAQ US Benchmark Transaction Processing Services Index			S&P 500 Financials Index
	2023			$ 122			$ 133
	2022			100			119
	2021			128			133
	2020			134			98

Adjustment To PEO Compensation, Footnote

(2)

Amounts shown for compensation actually paid are computed in accordance with Item 402(v) of Regulation S-K and do not reflect the actual amount of compensation realized by the NEOs during the applicable year. Compensation actually paid reflects exclusions and inclusions from the summary compensation table (“SCT”) total as set forth in the tables below.

Calculation of Principal Executive Officer Compensation Actually Paid

				Mr. Bisignano
				2023			2022			2021			2020
	Summary Compensation Table Total⁽¹⁾			$ 27,943,757			$ 17,822,560			$20,385,208			$ 12,193,925
	Deduct amount reported for stock and option awards in the SCT⁽²⁾			(23,252,867)			(16,210,972)			(16,120,519)			(11,200,076)
	Add year-end fair value of awards granted during the fiscal year that are outstanding and unvested as of the end of the fiscal year⁽³⁾			36,387,241			20,127,968			18,853,852			11,466,300
	Change in fair value as of the vesting date (from the prior year end) for vested awards granted in any prior year⁽³⁾			2,997,666			1,203,552			(1,182,658)			(5,063,077)
	Change in fair value as of fiscal year end (from the prior year end) for unvested and outstanding awards granted in any prior year⁽³⁾			15,777,434			(1,613,973)			(11,188,283)			(4,538,711)
	Compensation Actually Paid			$59,853,233			$21,329,135			$10,747,601			$2,858,361

(1)	Reflects the total compensation reported in the SCT for each year shown.

(2)	Reflects the grant date fair value of the awards granted in the respective years under the Incentive Plan. Information about the assumptions that we used to determine the fair value of equity awards is set forth in

our Annual Report on Form 10-K in Note 16 to our Consolidated Financial Statements for the year ended December 31, 2023.

(3)	The valuation assumptions used to calculate the fair values did not differ materially from those disclosed at the time of grant.

Non-PEO NEO Average Total Compensation Amount

$ 7,602,539

$ 5,038,732

$ 7,859,651

$ 4,191,368

Non-PEO NEO Average Compensation Actually Paid Amount

$ 11,007,287

5,802,524

6,677,144

1,232,786

Adjustment to Non-PEO NEO Compensation Footnote

(2)

Amounts shown for compensation actually paid are computed in accordance with Item 402(v) of Regulation S-K and do not reflect the actual amount of compensation realized by the NEOs during the applicable year. Compensation actually paid reflects exclusions and inclusions from the summary compensation table (“SCT”) total as set forth in the tables below.

Calculation of Average Non-Principal Executive Officer Compensation Actually Paid

				2023			2022			2021			2020
	Average Summary Compensation Table Total⁽¹⁾			$7,602,539			$5,038,732			$7,859,651			$4,191,368
	Deduct average amount reported for stock and option awards in the SCT⁽²⁾			(5,991,705)			(4,242,754)			(4,796,487)			(3,575,048)
	Add year-end average fair value of awards granted during the fiscal year that are outstanding and unvested as of the end of the fiscal year⁽³⁾			6,975,641			5,267,468			5,040,055			3,691,336
	Average change in fair value as of the vesting date (from the prior year end) for vested awards granted in any prior year⁽³⁾			496,504			(120,416)			(85,895)			(1,684,428)
	Average change in fair value as of fiscal year end (from the prior year end) for unvested and outstanding awards granted in any prior year⁽³⁾			3,005,043			(140,508)			(1,340,180)			(1,390,441)
	Fair value as of prior year end of stock and option awards (from the prior year end) that failed to meet applicable vesting conditions during the fiscal year⁽³⁾			(1,080,735)
	Average Compensation Actually Paid			$ 11,007,287			$ 5,802,524			$ 6,677,144			$ 1,232,786

(1)	Reflects the average of the total compensation reported in the SCT for the non-PEO NEOs in each year shown.

(2)	Reflects the grant date fair value of awards granted in the respective years under the Incentive Plan. All equity amounts in the table are the average of the non-PEO NEO totals. Information about the assumptions that we used to determine the fair value of equity awards is set

forth in our Annual Report on Form 10-K in Note 16 to our Consolidated Financial Statements for the year ended December 31, 2023.

(3)	The valuation assumptions used to calculate the fair values of awards did not differ materially from those disclosed at the time of grant.

Compensation Actually Paid vs. Total Shareholder Return

Compensation and Performance

During the four years presented:

•

Cumulative total shareholder return for the company increased 18% compared to cumulative total shareholder return for the Peer Index, which was flat, while PEO and other NEO compensation actually paid varied due primarily to executive officer succession, increased use of equity as a component of total compensation and changes in the value of our stock.

Compensation Actually Paid vs. Net Income

Compensation and Performance

During the four years presented:

•

Net income attributable to the Company increased an average of 50% each year, growing from $958 million in 2020 to over $3.0 billion in 2023, while PEO and other NEO compensation actually paid varied due primarily to executive officer succession, increased use of equity as a component of total compensation and changes in the value of our stock.

Compensation Actually Paid vs. Company Selected Measure

Compensation and Performance

During the four years presented:

•

Adjusted revenue for incentive compensation grew 30% over the four-year period and more than 7% each year, while PEO and other NEO compensation actually paid varied due primarily to executive officer succession, increased use of equity as a component of total compensation and changes in the value of our stock.

Total Shareholder Return Vs Peer Group

Compensation and Performance

During the four years presented:

•

Cumulative total shareholder return for the company increased 18% compared to cumulative total shareholder return for the Peer Index, which was flat, while PEO and other NEO compensation actually paid varied due primarily to executive officer succession, increased use of equity as a component of total compensation and changes in the value of our stock.

Tabular List, Table

Determining Compensation Actually Paid; Most Important Performance Measures

The most important metrics that we used to determine compensation actually paid for 2023 were:

•	Adjusted Revenue for Incentive Compensation

•	Organic Revenue Growth

•	Adjusted Operating Income

•	Adjusted Earnings Per Share

•	Relative Total Shareholder Return

Total Shareholder Return Amount

$ 115

87

90

98

Peer Group Total Shareholder Return Amount

133

119

133

98

Net Income (Loss)

$ 3,068,000,000

$ 2,530,000,000

$ 1,334,000,000

$ 958,000,000

Company Selected Measure Amount

18,039,000,000

16,732,000,000

15,354,000,000

13,902,000,000

Mr. Bisignano

Mr. Yabuki

Mr. Bisignano

Mr. Bisignano

Mr. Bisignano

Previous Peer Group Total Shareholder Return Amount

$ 122

$ 100

$ 128

$ 134

Pay vs Performance Disclosure

Adjusted Revenue for Incentive Compensation

Pay vs Performance Disclosure

Organic Revenue Growth

Pay vs Performance Disclosure

Adjusted Operating Income

Pay vs Performance Disclosure

Adjusted Earnings Per Share

Pay vs Performance Disclosure

Relative Total Shareholder Return

Mr. Bisignano [Member]

Pay vs Performance Disclosure

PEO Total Compensation Amount

$ 27,943,757

17,822,560

20,385,208

12,193,925

PEO Actually Paid Compensation Amount

59,853,233

21,329,135

10,747,601

2,858,361

Mr. Yabuki [Member]

Pay vs Performance Disclosure

PEO Total Compensation Amount

0

0

28,846,153

PEO Actually Paid Compensation Amount

0

0

19,687,211

PEO | Mr. Bisignano [Member] | Amount Reported for Stock and Option Awards in the SCT [Member]

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

(23,252,867)

(16,210,972)

(16,120,519)

(11,200,076)

PEO | Mr. Bisignano [Member] | Year-End Fair Value of Awards Granted During the Fiscal Year that are Outstanding and Unvested as of the End of the Fiscal Year [Member]

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

36,387,241

20,127,968

18,853,852

11,466,300

PEO | Mr. Bisignano [Member] | Change in Fair Value as of the Vesting Date (from the Prior Year End) for Vested Awards Granted in Any Prior Year [Member]

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

2,997,666

1,203,552

(1,182,658)

(5,063,077)

PEO | Mr. Bisignano [Member] | Change in Fair Value as of Fiscal Year End (from the Prior Year End) for Unvested and Outstanding Awards Granted in Any Prior Year [Member]

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

15,777,434

(1,613,973)

(11,188,283)

(4,538,711)

Non-PEO NEO | Amount Reported for Stock and Option Awards in the SCT [Member]

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

(5,991,705)

(4,242,754)

(4,796,487)

(3,575,048)

Non-PEO NEO | Year-End Fair Value of Awards Granted During the Fiscal Year that are Outstanding and Unvested as of the End of the Fiscal Year [Member]

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

6,975,641

5,267,468

5,040,055

3,691,336

Non-PEO NEO | Change in Fair Value as of the Vesting Date (from the Prior Year End) for Vested Awards Granted in Any Prior Year [Member]

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

496,504

(120,416)

(85,895)

(1,684,428)

Non-PEO NEO | Change in Fair Value as of Fiscal Year End (from the Prior Year End) for Unvested and Outstanding Awards Granted in Any Prior Year [Member]

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

3,005,043

$ (140,508)

$ (1,340,180)

$ (1,390,441)

Non-PEO NEO | Fair Value as of Prior Year End of Stock and Option Awards (from the Prior Year End) that Failed to Meet Applicable Vesting Conditions During the Fiscal Year [Member]

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

$ (1,080,735)