8-KLeadership Changes

Fidelity National Information Services, Inc. 8-K Report, Executive Changes (Jun 7, 2010)

Filed June 7, 2010For Securities:FIS

Summary

This 8-K filing announces a significant change in the employment terms for George P. Scanlon, formerly Corporate Executive Vice President, Finance at Fidelity National Information Services, Inc. (FIS). Effective June 1, 2010, Mr. Scanlon's role has transitioned from an executive position to a non-executive employee, with his employment agreement being amended and restated for a four-year term. Investors should note the substantial reduction in Mr. Scanlon's base salary to $12,000 per year, coupled with continued eligibility for an annual incentive bonus and participation in the Metavante merger synergy plan. While his executive responsibilities have ceased, the agreement outlines his compensation structure moving forward and his continued involvement in a non-executive capacity.

Key Highlights

  • 1George P. Scanlon's role has changed from Corporate Executive Vice President, Finance to a non-executive employee.
  • 2Mr. Scanlon's employment agreement has been amended and restated for a four-year term, effective June 1, 2010.
  • 3His annual base salary has been reduced to $12,000.
  • 4He remains eligible for an annual incentive bonus for 2010, with a target bonus opportunity of 150% of $450,000, and a maximum of 300% of $450,000, prorated for his full-time service in 2010.
  • 5Mr. Scanlon will continue to participate in the Metavante merger synergy plan.
  • 6This change signifies a shift in his executive responsibilities and compensation structure within FIS.

Frequently Asked Questions

The filing indicates a transition of Mr. Scanlon's role from an executive position to a non-executive employee. While the specific reasons are not detailed, this change likely reflects a strategic restructuring of executive responsibilities and compensation within Fidelity National Information Services, Inc.

Mr. Scanlon will receive a base salary of $12,000 per year. He is also eligible for an annual incentive bonus in 2010, with a target of 150% of $450,000 and a maximum of 300% of $450,000, prorated for his full-time service during the year. He will also continue to participate in the Metavante merger synergy plan.

The amended and restated employment agreement is for a term of four years, commencing from June 1, 2010.

Yes, the filing states that Mr. Scanlon will continue to participate in the Metavante merger synergy plan, indicating ongoing involvement in significant company programs despite his change in executive status.