8-KOther EventsExhibits & Filings

Fidelity National Information Services, Inc. 8-K Report, Corporate Update (Aug 16, 2019)

Filed August 16, 2019For Securities:FIS

Summary

This 8-K filing from Fidelity National Information Services (FIS) on August 16, 2019, primarily discloses the establishment of a Rule 10b5-1 Trading Plan by Chief Financial Officer Woody Woodall. This plan allows for the orderly sale of up to 200,997 common shares, derived from the exercise of stock options, over the remainder of 2019. The plan is designed for personal financial planning purposes and to comply with regulatory requirements, ensuring transactions occur without the CFO possessing material non-public information. For investors, this filing provides transparency regarding insider stock transactions. The Rule 10b5-1 Trading Plan is structured to prevent any perception of insider trading, as the CFO relinquishes control over the timing and execution of sales once the plan is in place. The company also confirms that Mr. Woodall will remain in compliance with FIS' stock ownership guidelines after these transactions are completed, suggesting no significant change in his commitment to the company.

Key Highlights

  • 1CFO Woody Woodall has established a Rule 10b5-1 Trading Plan to sell up to 200,997 FIS common shares.
  • 2The sales will occur over time in 2019, subject to pre-defined criteria including minimum price levels.
  • 3The plan allows for the exercise of stock options and immediate sale of the underlying shares.
  • 4Rule 10b5-1 plans are designed to facilitate orderly stock sales by insiders when they do not possess material non-public information.
  • 5Mr. Woodall will have no discretion over sales under the plan once it's active, mitigating insider trading concerns.
  • 6All transactions will be publicly disclosed via Form 144 and Form 4 filings.
  • 7Upon completion, Mr. Woodall will still be in compliance with FIS' executive stock ownership guidelines.

Frequently Asked Questions

The CFO, Woody Woodall, is selling stock as part of a pre-arranged Rule 10b5-1 Trading Plan. This is a common practice for personal financial planning, allowing executives to diversify their holdings or manage stock options without concerns about timing trades around material non-public information.

Not necessarily. Rule 10b5-1 plans are designed to allow for the orderly sale of shares according to a pre-set schedule and conditions, regardless of the company's future performance. The plan is established when the executive does not possess material non-public information. The company also stated that Mr. Woodall will remain in compliance with stock ownership guidelines, suggesting ongoing commitment.

The plan allows for the sale of up to 200,997 shares, derived from the exercise of stock options. These sales may take place from time to time throughout 2019, subject to the plan's specific criteria, including certain minimum price levels.

Yes, all transactions conducted under this Rule 10b5-1 Trading Plan will be publicly disclosed through Form 144 and Form 4 filings with the Securities and Exchange Commission, as required by law.