Summary
This 8-K filing reports on a pre-arranged stock trading plan adopted by FIS CEO Gary Norcross. The plan allows for the orderly sale of up to 293,333 shares of FIS common stock, derived from stock options scheduled to expire in 2018. The sales will occur throughout 2018 and are subject to specific pricing and volume criteria, ensuring a structured approach to diversification. This plan, established under Rule 10b5-1 of the Securities Exchange Act of 1934, is designed to prevent any appearance of insider trading. By setting up this plan when not in possession of material non-public information, Mr. Norcross can manage his personal financial planning and diversify his holdings without impacting the market or raising concerns about the timing of these transactions. All trades will be publicly disclosed via Form 144 and Form 4 filings, and Mr. Norcross remains compliant with FIS' stock ownership guidelines.
Key Highlights
- 1FIS CEO Gary Norcross has adopted a Rule 10b5-1 trading plan to sell company stock.
- 2The plan allows for the sale of up to 293,333 shares derived from stock options expiring in 2018.
- 3Sales are scheduled to occur in an orderly manner throughout 2018.
- 4The plan operates under specific minimum price levels and daily volume activity criteria.
- 5This is a personal financial planning exercise, designed to minimize market impact and avoid insider trading perceptions.
- 6All transactions will be publicly disclosed through Form 144 and Form 4 filings.
- 7The CEO's trading plan is compliant with FIS' executive stock ownership guidelines.