UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 14A

Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934

(Amendment No. )

Filed by the Registrant ☒

Filed by a Party other than the Registrant ☐

Check the appropriate box:

☐ Preliminary Proxy Statement

☐ Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2))

☒ Definitive Proxy Statement

☐ Definitive Additional Materials

☐ Soliciting Material Pursuant to §240.14a-12

THE WESTERN UNION COMPANY

(Name of Registrant as Specified In Its Charter)

(Name of Person(s) Filing Proxy Statement, if other than the Registrant)

Payment of Filing Fee (Check all boxes that apply):

☒ No fee required.

☐ Fee paid previously with preliminary materials.

☐ Fee computed on table in exhibit required by Item 25(b) per Exchange Act Rules 14a-6(i)(1) and 0-11.

THE WESTERN UNION COMPANY

7001 E. Belleview Avenue
Denver, Colorado 80237

March 31, 2025

DEAR STOCKHOLDER:

You are cordially invited to attend the 2025 Annual Meeting of Stockholders (the “Annual Meeting”) of The Western Union Company (the “Company”), to be held at 8:00 a.m., local time, on Thursday, May 15, 2025, at the Company’s headquarters located at 7001 E. Belleview Avenue, Denver, Colorado 80237. The registration desk will open at 7:30 a.m.

The attached notice and Proxy Statement contain details of the business to be conducted at the Annual Meeting. In addition, the Company’s 2024 Annual Report, which is being made available to you along with the Proxy Statement, contains information about the Company and its performance. Directors and certain officers of the Company will be present at the Annual Meeting.

Your vote is important! Whether or not you plan to attend the Annual Meeting, please read the Proxy Statement and then vote at your earliest convenience by telephone, internet, tablet or smartphone, or request a proxy card to complete, sign, date and return by mail. Using the telephone, internet, tablet or smartphone voting systems, or mailing your completed proxy card, will not prevent you from voting in person at the Annual Meeting if you are a stockholder of record and wish to do so.

On behalf of the Board of Directors, I would like to express our appreciation for your continued interest in the Company.

Regards,

Devin B. McGranahan

President, Chief Executive Officer and Director

YOUR VOTE IS IMPORTANT!

PLEASE PROMPTLY VOTE BY TELEPHONE, INTERNET, TABLET OR SMARTPHONE, OR REQUEST A PROXY CARD TO COMPLETE, SIGN, DATE AND RETURN BY MAIL SO THAT YOUR SHARES MAY BE VOTED IN ACCORDANCE WITH YOUR WISHES AND SO THAT THE PRESENCE OF A QUORUM MAY BE ASSURED. YOUR PROMPT ACTION WILL AID THE COMPANY IN REDUCING THE EXPENSE OF PROXY SOLICITATION.

DATED MARCH 31, 2025

THE WESTERN UNION COMPANY
7001 E. BELLEVIEW AVENUE
DENVER, COLORADO 80237
(866) 405-5012

NOTICE OF 2025 ANNUAL MEETING
OF STOCKHOLDERS


	When: May 15, 2025 at 8:00 a.m. Mountain Time		Where: Company Headquarters 7001 E. Belleview Avenue Denver, Colorado 80237		Record Date: March 18, 2025

This summary highlights information contained elsewhere in this Proxy Statement. This summary does not contain all of the information you should consider, and you should read the entire Proxy Statement before voting.

ITEMS OF BUSINESS		BOARD’S RECOMMENDATION	FURTHER INFORMATION
1	Election of Directors named in this Proxy Statement to serve as members of the Company’s Board of Directors until the Company’s 2026 Annual Meeting of Stockholders	FOR each director nominee	Page 14
2	Hold an advisory vote to approve executive compensation	FOR	Page 72
3	Ratify the selection of Ernst & Young LLP as our independent registered public accounting firm for 2025	FOR	Page 74
4	Transact any other business as may properly come before the Annual Meeting or any postponement or adjournment of the Annual Meeting

ATTENDING THIS MEETING

All stockholders will be required to show valid, government-issued, photo identification or an employee badge issued by the Company. If you own shares as a stockholder of record (a “Registered Holder”), your name will be compared to the list of registered stockholders to verify your share ownership. If you own shares through a broker, agent, or other nominee (a “Beneficial Holder”), you will need to bring evidence of your share ownership, such as your most recent brokerage account statement or a legal proxy from your broker, agent or other nominee. If you do not have valid picture identification and proof that you own Company shares, you will not be admitted to the Annual Meeting. All packages and bags are subject to inspection. Please note that the registration desk will open at 7:30 a.m. Please arrive in advance of the start of the Annual Meeting to allow time for identity verification.

NOTICE OF 2025 ANNUAL MEETING OF STOCKHOLDERS

WHO CAN ATTEND AND VOTE

Our stockholders of record on March 18, 2025 are entitled to notice of, and to vote at, the Annual Meeting and at any adjournment or postponement that may take place. A list of stockholders entitled to vote at the Annual Meeting will be available for examination during normal business hours by any stockholder for ten days prior to the Annual Meeting at our principal executive offices located at 7001 E. Belleview Avenue, Denver, Colorado 80237.

YOUR VOTE IS EXTREMELY IMPORTANT.



TELEPHONE	INTERNET	BY MAIL	BY TABLET OR SMARTPHONE	IN PERSON
Beneficial Holders call toll free at 1-800-454-8683 Registered Holders call toll free at 1-866-883-3382	Beneficial Holders visit www.proxyvote.com Registered Holders visit www.proxypush.com/WU	Request a paper proxy card to complete, sign, date and return	Beneficial Holders vote your shares online with your tablet or smartphone by scanning the QR code above. Registered Holders vote your shares online with your tablet or smartphone by scanning the QR code on your Proxy Card.	Attend the Annual Meeting

NOTICE OF 2025 ANNUAL MEETING OF STOCKHOLDERS

IMPORTANT NOTICE REGARDING THE AVAILABILITY OF PROXY MATERIALS

The Company’s Proxy Statement and Annual Report to Stockholders are available at www.proxyvote.com or www.proxydocs.com/brokers/WU for Beneficial Holders and www.proxydocs.com/WU for Registered Holders. To access such proxy materials, you will need the control/identification numbers provided to you in your Notice of Internet Availability of Proxy Materials or your Proxy Card.

We appreciate your prompt vote. After reading the Proxy Statement, please vote at your earliest convenience, by telephone, Internet, tablet or smartphone, or request a proxy card to complete, sign, date and return by mail. If you decide to attend the Annual Meeting and would prefer to vote in person by ballot, your proxy will be revoked automatically and only your vote at the Annual Meeting will be counted.

Please note that all votes cast via telephone, Internet, tablet or smartphone must be cast prior to 11:59 p.m., Eastern Time on Wednesday, May 14, 2025. For shares held in The Western Union Company Incentive Savings Plan, direction regarding how to vote such shares must be received by mail on or before Monday, May 12, 2025, or by telephone, Internet, tablet or smartphone by 11:59 p.m., Eastern Time, on May 12, 2025.

By Order of the Board of Directors

Benjamin C. Adams

Chief Legal Officer and Corporate Secretary

March 31, 2025

Table of Contents

Proxy Summary		i
Proxy Statement		1
The Proxy Process and Stockholder Voting		2
Board of Directors Information		6
Proposal 1—Election of Directors		14
Corporate Governance		15
Summary of Corporate Governance Practices		15
Attracting, Developing, and Engaging Employees		16
Independence of Directors		16
Board Leadership Structure		17
Risk Oversight		17
Committees of the Board of Directors		18
Chief Executive Officer Succession Planning		23
Communications with the Board of Directors		23
Board Attendance at Annual Meeting of Stockholders		23
Presiding Director of Non-Management Director Meetings		23
Nomination of Directors		23
Submission of Stockholder Proposals		24
Code of Ethics		24
Insider Trading Policy		25
Prohibition against Pledging and Hedging of the Company’s Securities		25
Compensation of Directors		26
Report of the Audit Committee		29
Compensation and Benefits Committee Report		31
Compensation Discussion and Analysis		32
Executive Summary		32
Establishing and Evaluating Executive Compensation		35
The Western Union 2024 Executive Compensation Program		40

Executive Compensation		51
2024 Summary Compensation Table		51
2024 All Other Compensation Table		52
2024 Grants of Plan-Based Awards Table		53
2024 Outstanding Equity Awards at Fiscal Year-End Table		55
2024 Option Exercises and Stock Vested Table		58
2024 Nonqualified Deferred Compensation Table		58
Potential Payments upon Termination or Change-in-Control		59
Payments upon Termination or Change-in-Control Tables		61
Risk Management and Compensation		64
CEO Pay Ratio		65
Pay Versus Performance		66
Policies and Practices Related to the Timing of Grants of Certain Equity Awards		71
Proposal 2—Advisory Vote to Approve Executive Compensation		72
Proposal 3—Ratification of Selection of Auditors		74
Equity Compensation Plan Information		75
Stock Beneficially Owned by Directors, Executive Officers and Our Largest Stockholders		76
Certain Transactions and Other Matters		78
Delinquent 16(a) Reports		79
Annex A		A-1
Reconciliation of Non-GAAP Measures		A-1

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PROXY SUMMARY

2025 ANNUAL MEETING OF STOCKHOLDERS OF THE WESTERN UNION COMPANY (the “Company,” “Western Union,” “we,” “our,” or “us”)
	When: May 15, 2025 at 8:00 a.m. Mountain Time			Where: Company Headquarters 7001 E. Belleview Avenue Denver, Colorado 80237			Record Date: March 18, 2025

MEETING AGENDA AND VOTING MATTERS

ITEM	MANAGEMENT PROPOSALS	BOARD VOTE RECOMMENDATION	PAGE REFERENCE (FOR MORE DETAIL)
1	Election of Directors named in this Proxy Statement to serve as members of the Company’s Board of Directors until the Company’s 2026 Annual Meeting of Stockholders	FOR each director nominee	14
2	Advisory Vote to Approve Executive Compensation	FOR	72
3	Ratify the Selection of Ernst & Young LLP as our independent registered public accounting firm for 2025	FOR	74

SEC Form DEF 14A filed by Western Union Company