FISERV INC
Shareholder Proposals
Item 4
Adopt an enduring policy requiring separation of the board chair and CEO roles, with the board chair an independent director.
Requests that the board amend governance documents to require the roles of chairman and CEO be held by separate individuals and that the chairman be an independent director, while permitting an interim non-independent chair during an accelerated search. The proposal suggests phased implementation tied to a CEO contract renewal or transition, and states that an independent chair would bring impartial oversight, accountability and stronger checks and balances. It cites recent 2025 operational and market challenges at Fiservincluding a large one-day stock decline, missed quarterly expectations, lowered guidance, leadership changes and related litigationas rationale for strengthening board oversight. The proponent asks shareholders to vote to adopt the independent chair policy.