Fiserv management check
FISV · Financials · Transaction & Payment Processing Services · CEO Panagiotis Georgakopoulos (since the last proxy; previously Mr. Lyons, Mr. Bisignano)
Filings as of
4 good · 1 to watch · 2 flagged, across the seven questions below.
- Flag
Have owners done well?
Trailed its chosen peers$100 invested at the start of fiscal 2021 grew to $59, against $203 for the peer group the company picked itself.
- Good
Does pay follow performance?
Pay rose and fell with returnsOver 5 years, the CEO's pay actually paid (equity valued at the share price) had a correlation of 0.86 with shareholder return. 1 means pay moved in step; below 0, the opposite way.
- Watch
What does the CEO cost owners?
2.0% of net income$70.3m of reported pay in fiscal 2025, against $3.5bn of net income.
- Good
Do they own the stock?
New CEO since the proxyPanagiotis Georgakopoulos filed as Chief Executive Officer after the last proxy (which named Mr. Lyons, Mr. Bisignano) and holds 303,868 shares. Their pay will be in the next proxy. 7 insiders bought $2.2m on the open market in the last six months, with their own money, near the lows.
- Good
Are owners being diluted?
Share count shrinkingDiluted shares changed -5.6% a year over the last three fiscal years. Stock-based pay was 1.7% of revenue in the latest year.
- Flag
Is leadership stable?
New CEO: Panagiotis GeorgakopoulosPanagiotis Georgakopoulos has filed as CEO since the last proxy. CEOs in the pay table: Mr. Bisignano, Mr. Lyons. 15 filings under 8-K item 5.02 (officers or directors leaving or joining, or new pay arrangements) in the last 3 years.
- Good
Are the books clean?
No red flags on fileNo restatements, auditor changes or late filings since 2021.
Against the S&P 500
Each check's score (0–100) and how it compares: the share of ranked S&P 500 companies it matches or beats, and the median in Financials.
| Check | Score | At or above | Sector median |
|---|---|---|---|
| Owner returns | 0 | 49 | |
| Pay for performance | 93 | 83 | |
| CEO cost | 25 | 67 | |
| Skin in the game | — | — | 51 |
| Dilution | 100 | 69 | |
| Stable leadership | 10 | 80 | |
| Clean books | 100 | 100 |
Closest peers
Others in Transaction & Payment Processing Services, by management score. Fiserv is 63rd of 72 in its sector.
- 107MAMastercard76
- 209CPAYCorpay68
- 250XYZBlock, Inc.64
- 273VVisa Inc.63
- 316GPNGlobal Payments60
- 359PYPLPayPal57
- 389FISVFiserv55
- 433JKHYJack Henry & Associates49
- 462FISFidelity National Information Services42
Pay versus performance
From the proxy statement filed April 2, 2026. "Actually paid" values stock awards at the share price, so it rises and falls with the stock.
| Fiscal year | CEO | CEO pay | Actually paid | Other executives (avg) | $100 became | Peers | Net income |
|---|---|---|---|---|---|---|---|
| 2025 | Mr. Lyons, Mr. Bisignano | $70.3m | $20.8m | $9.0m | $59 | $203 | $3.5bn |
| 2024 | Mr. Bisignano | $23.8m | $70.7m | $6.1m | $180 | $177 | $3.1bn |
| 2023 | Mr. Bisignano | $27.9m | $59.9m | $7.6m | $117 | $135 | $3.1bn |
| 2022 | Mr. Bisignano | $17.8m | $21.3m | $5.0m | $89 | $121 | $2.5bn |
| 2021 | Mr. Bisignano | $20.4m | $10.7m | $7.9m | $91 | $135 | $1.3bn |
The board says pay is tied most to adjusted revenue for incentive compensation. Its other key measures: Adjusted Revenue for Incentive Compensation, Organic Revenue Growth, Adjusted Operating Income, Adjusted Earnings Per Share, Relative Total Shareholder Return.
Insiders and the CEO's stake
Panagiotis Georgakopoulos (Chief Executive Officer) held 303,868 shares directly after their latest Form 4 on Jun 15, 2026.
7 insiders bought $2.2m on the open market in the last six months, with their own money, near the lows.
- BoughtLance M FritzDirector$520kAug 7, 2026
- BoughtAdam L. RosmanChief Admin. and Legal Officer$501kJun 16, 2026
- BoughtPaul M ToddChief Financial Officer$500kJun 17, 2026
- BoughtGordon M. NixonDirector$372kJun 16, 2026
Leadership and governance on file
- Sep 22, 2026Leadership change8-K 5.02
- Jul 7, 2026Leadership change8-K 5.02
- Jun 15, 2026Leadership change8-K 5.02
- Oct 29, 2025Leadership change8-K 5.02
- Aug 29, 2025Leadership change8-K 5.02
- May 16, 2025Leadership change8-K/A 5.02
- May 7, 2025Leadership change8-K 5.02
- Apr 2, 2025Leadership change8-K 5.02
- Mar 17, 2025Leadership change8-K 5.02
- Jan 23, 2025Leadership change8-K 5.02
- Dec 6, 2024Leadership change8-K 5.02
- Mar 13, 2024Leadership change8-K 5.02
Latest shareholder vote results: May 22, 2026, including the say-on-pay vote.
Where the money went
Over 2021–2025: $0 returned to owners in buybacks and dividends, 0% of net income, and $1.6bn of pay in stock.
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $16.2bn | $17.7bn | $19.1bn | $20.5bn | $21.2bn |
| Net income | $1.3bn | $2.5bn | $3.1bn | $3.1bn | $3.5bn |
| Stock-based pay | $239.0m | $323.0m | $342.0m | $367.0m | $357.0m |
| Buybacks | — | — | — | — | — |
| Dividends | — | — | — | — | — |
| Diluted shares | 672m | 648m | 616m | 582m | 549m |
Educational only, not investment advice. Figures are as filed with the SEC: pay from the proxy's pay-versus-performance table, capital allocation from 10-K XBRL data, insider trades from Form 4s over the last six months, events from the last 5 years of filings. The peer group is the one the company chose. See the method.