8-KOther Events

Fidelity National Information Services, Inc. 8-K Report, Corporate Update (Mar 19, 2013)

Filed March 19, 2013For Securities:FIS

Summary

Fidelity National Information Services, Inc. (FIS) has filed an 8-K report detailing a stock trading plan adopted by Gary Norcross, the company's President and Chief Operating Officer. The plan allows Mr. Norcross to exercise and sell up to 966,407 stock options, which are set to expire in 2014 and 2015. These transactions are intended to be conducted in an orderly manner throughout 2013, subject to specific conditions like minimum price levels and daily volume limitations, as governed by a Rule 10b5-1 trading plan. The primary purpose of this plan is for personal financial planning and to facilitate the exercise of expiring options, aiming to minimize any potential market impact. Importantly, the plan ensures that Mr. Norcross will have no discretion over the timing or execution of sales once the plan is in place, mitigating concerns about insider trading. Despite these planned sales, Mr. Norcross will continue to hold a significant stake in the company, maintaining compliance with FIS' stock ownership guidelines.

Key Highlights

  • 1FIS President & COO Gary Norcross adopted a Rule 10b5-1 stock trading plan.
  • 2The plan allows for the exercise and sale of up to 966,407 stock options.
  • 3These options are scheduled to expire in 2014 and 2015.
  • 4Sales will occur in an orderly fashion throughout 2013, subject to price and volume conditions.
  • 5The plan is for personal financial planning and orderly exercise of expiring options.
  • 6Mr. Norcross has no discretion over sales under the plan, ensuring no insider trading concerns.
  • 7Following planned sales, Mr. Norcross will remain in compliance with company stock ownership guidelines.

Frequently Asked Questions

Gary Norcross, President and COO of FIS, has adopted a trading plan to exercise and sell a portion of his stock options as part of his personal financial planning. The options are set to expire in 2014 and 2015, and the plan aims to facilitate their orderly exercise and sale.

A Rule 10b5-1 trading plan allows corporate insiders, like Mr. Norcross, to pre-arrange the sale of company stock at a time when they do not possess material, non-public information. This plan enables them to diversify their portfolios or manage stock option expirations over time, with no personal discretion over the timing or execution of trades once the plan is established.

No, the sale is executed under a pre-defined trading plan for personal financial planning and to manage expiring stock options. Mr. Norcross will continue to hold a substantial number of shares and will remain in compliance with FIS' stock ownership guidelines, suggesting ongoing commitment to the company.

Under this plan, Mr. Norcross may exercise and sell up to 966,407 shares of FIS stock.