8-KOther Events

Fidelity National Information Services, Inc. 8-K Report, Corporate Update (Aug 28, 2020)

Filed August 28, 2020For Securities:FIS

Summary

Fidelity National Information Services, Inc. (FIS) announced on August 28, 2020, that its Chairman, President, and CEO, Gary Norcross, has adopted a Rule 10b5-1 trading plan to sell a portion of his company shares. This plan allows for the orderly exercise of stock options, some of which are set to expire in 2021, and the subsequent sale of the underlying shares. The transactions are planned to occur throughout 2021, subject to specific pricing and volume conditions, and are intended to facilitate Mr. Norcross's personal financial planning while minimizing market impact.

Key Highlights

  • 1CEO Gary Norcross has adopted a Rule 10b5-1 trading plan to sell company shares.
  • 2The plan covers up to 419,491 stock options that expire in 2021.
  • 3Sales will occur in an orderly manner throughout 2021, subject to pre-defined price and volume criteria.
  • 4The plan is designed for personal financial planning and to avoid insider trading concerns.
  • 5Mr. Norcross will have no discretion over the timing or execution of sales under the plan.
  • 6All transactions will be publicly disclosed via Form 144 and Form 4 filings.
  • 7The CEO remains compliant with FIS' stock ownership guidelines.

Frequently Asked Questions

The CEO is selling stock as part of personal financial planning, specifically to exercise stock options that are approaching their expiration date in 2021. The Rule 10b5-1 plan allows for an orderly and pre-determined sale process.

No, the adoption of a Rule 10b5-1 plan is a standard practice for executives to manage their personal finances and diversify their investments. It is designed to occur regardless of any material non-public information, suggesting it is not a reflection of the CEO's confidence in the company's prospects.

The plan is structured to minimize market impact by spreading the transactions over time and adhering to specific price and volume conditions. This approach aims to prevent sudden price fluctuations.

The transactions are scheduled to occur from time to time throughout 2021, subject to the terms of the trading plan.