8-KOther Events

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

Filed November 8, 2013For Securities:FIS

Summary

Fidelity National Information Services, Inc. (FIS) announced on November 8, 2013, that its Chief Financial Officer, Woody Woodall, has adopted a pre-arranged stock trading plan under Rule 10b5-1. This plan allows for the orderly sale of up to 27,000 of his company stock options, which are set to expire in 2015. The sales are expected to occur throughout 2014, contingent on specific price conditions and the criteria of the 10b5-1 plan. The primary objective of this trading plan is to facilitate Mr. Woodall's personal financial planning, including the exercise and sale of stock options before they expire, while minimizing potential market impact and avoiding any perceptions of insider trading. The adoption of a 10b5-1 plan ensures that these trades are executed without the benefit of any material non-public information and removes the executive's discretion over the timing and execution of sales.

Key Highlights

  • 1CFO Woody Woodall has adopted a Rule 10b5-1 trading plan.
  • 2The plan permits the exercise and sale of up to 27,000 FIS stock options.
  • 3These options are scheduled to expire in 2015.
  • 4Sales are planned to occur over time in 2014, subject to price conditions.
  • 5The plan is designed for orderly diversification and avoidance of option expiration.
  • 6Executions under the plan are subject to specific pricing thresholds and remove executive discretion.
  • 7All trades will be publicly disclosed via Form 144 and Form 4 filings.

Frequently Asked Questions

The CFO is selling company stock as part of a pre-arranged trading plan (10b5-1) to exercise and sell stock options that are due to expire in 2015. This plan is designed for orderly diversification and personal financial planning, not necessarily as a reflection of negative sentiment about the company's future performance.

No, the adoption of a Rule 10b5-1 plan is specifically designed to allow insiders to trade securities without being in possession of material non-public information. The plan facilitates the orderly exercise and sale of options, often to diversify personal holdings or avoid expiration, and removes the executive's discretion over the timing of trades, thus mitigating concerns about insider trading or signal interpretation.

The plan allows for the exercise and sale of up to 27,000 stock options. These transactions are expected to take place from time-to-time throughout 2014, subject to certain minimum price levels and the specific criteria of the 10b5-1 plan.

The plan is designed to minimize market impact. By spreading the sales over a period of time throughout 2014 and adhering to the 10b5-1 criteria, FIS aims to avoid significant price disruptions. The exact impact will depend on the trading volume and market conditions at the time of the sales.