FORM 4 [ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).         
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
                                                                                  
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
                      

1. Name and Address of Reporting Person *

Anderson Aaron
2. Issuer Name and Ticker or Trading Symbol

PayPal Holdings, Inc. [ PYPL ]
5. Relationship of Reporting Person(s) to Issuer (Check all applicable)

_____ Director                    _____ 10% Owner
__X__ Officer (give title below)    _____ Other (specify below)
VP, Chief Accounting Officer
(Last)          (First)          (Middle)

C/O PAYPAL HOLDINGS, INC., 2211 NORTH FIRST STREET
3. Date of Earliest Transaction (MM/DD/YYYY)

3/1/2020
(Street)

SAN JOSE, CA 95131
(City)        (State)        (Zip)
4. If Amendment, Date Original Filed (MM/DD/YYYY)

 
6. Individual or Joint/Group Filing (Check Applicable Line)

_X _ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 3/1/2020  A  6066 (1)A$0.0 20091 D  
Common Stock 3/1/2020  F  2098 (2)D$107.99 17993 D  
Common Stock 3/1/2020  M  3032 A$0.0 21025 D  
Common Stock 3/1/2020  M  1415 A$0.0 22440 D  
Common Stock 3/1/2020  M  943 A$0.0 23383 D  
Common Stock 3/1/2020  M  1478 A$0.0 24861 D  
Common Stock 3/1/2020  M  806 A$0.0 25667 D  
Common Stock 3/1/2020  F  3720 (3)D$107.99 21947 D  

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security3. Trans. Date3A. Deemed Execution Date, if any4. Trans. Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
6. Date Exercisable and Expiration Date7. Title and Amount of Securities Underlying Derivative Security
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)11. Nature of Indirect Beneficial Ownership (Instr. 4)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Restricted Stock Units - 11  (4)3/1/2020  A   3524     (5) (6)Common Stock 3524 $0.0 3524 D  
Restricted Stock Units -10  (4)3/1/2020  M     806   (5) (6)Common Stock 806 $0.0 1611 D  
Restricted Stock Units -6  (4)3/1/2020  M     3032   (5) (6)Common Stock 3032 $0.0 0 D  
Restricted Stock Units -7  (4)3/1/2020  M     1415   (5) (6)Common Stock 1415 $0.0 1414 D  
Restricted Stock Units -8  (4)3/1/2020  M     943   (5) (6)Common Stock 943 $0.0 943 D  
Restricted Stock Units -9  (4)3/1/2020  M     1478   (5) (6)Common Stock 1478 $0.0 2954 D  

Explanation of Responses:
(1) Represents shares earned in respect to performance-based restricted stock units (PBRSUs) based on the achievement by PayPal of certain performance targets for the 2017-2019 performance period, which were vested as shares of common stock on 3/1/2020.
(2) Represents shares withheld to satisfy tax withholding obligations in connection with the vesting of shares of common stock underlying PBRSUs on 3/1/2020.
(3) Represents shares withheld to satisfy tax withholding obligations in connection with the vesting of shares of restricted stock units granted to the Reporting Person.
(4) Each restricted stock unit represents a contingent right to receive one share of PayPal's common stock.
(5) The reporting person received a restricted stock unit grant subject to a three-year vesting schedule, vesting 33.34% on the one year anniversary date of the restricted stock unit, 33.33% on the second year anniversary, and 33.33% on the third year anniversary. Upon vesting, the reporting person will receive a number of shares of common stock equal to the number of restricted stock units that have vested.
(6) Not applicable.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director10% OwnerOfficerOther
Anderson Aaron
C/O PAYPAL HOLDINGS, INC.
2211 NORTH FIRST STREET
SAN JOSE, CA 95131


VP, Chief Accounting Officer

Signatures
By: Brian Yamasaki For: Aaron Anderson3/3/2020
**Signature of Reporting PersonDate

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