8-KOther Events

Fidelity National Information Services, Inc. 8-K Report, Corporate Update (May 28, 2021)

Filed May 28, 2021For Securities:FIS

Summary

Fidelity National Information Services, Inc. (FIS) announced on May 28, 2021, that its Chairman and CEO, Gary Norcross, has adopted a Rule 10b5-1 trading plan. This plan allows for the orderly sale of a portion of his common shares, specifically up to 230,061 stock options that are set to expire in February 2022. The primary purpose of this plan is to facilitate Mr. Norcross's personal financial planning by exercising and selling these options over time. The sales will occur under pre-determined criteria, including specific price levels and daily trading volumes, designed to minimize market impact and prevent any appearance of trading on material non-public information. This type of plan is standard under SEC regulations and is intended to provide insiders with flexibility in managing their stock holdings while adhering to compliance guidelines.

Key Highlights

  • 1CEO Gary Norcross has adopted a Rule 10b5-1 trading plan.
  • 2The plan allows for the sale of up to 230,061 stock options.
  • 3These options would otherwise expire on February 9, 2022.
  • 4Sales will be executed in an orderly manner over time in 2021.
  • 5Transactions are subject to pre-set criteria including minimum prices and daily volume.
  • 6The plan is designed to avoid concerns about the timing of transactions relative to material non-public information.
  • 7All transactions will be publicly disclosed via Form 144 and Form 4 filings.

Frequently Asked Questions

The CEO, Gary Norcross, is selling stock as part of a pre-arranged trading plan (Rule 10b5-1) to manage his personal financial planning. This specific sale involves exercising stock options that are nearing their expiration date.

No, a Rule 10b5-1 plan is specifically designed to allow insiders to sell stock without being in possession of material non-public information. The plan sets predetermined conditions for sales, and the CEO has no discretion over individual trades once the plan is in place, suggesting it's for diversification and financial planning rather than a signal about future stock performance.

The plan permits the sale of up to 230,061 stock options. These sales will occur from time to time during 2021, subject to the plan's criteria, which include minimum price levels and daily volume limitations.

Yes, all transactions executed under this trading plan will be publicly disclosed through filings with the SEC, specifically Form 144 and Form 4, as required by securities laws.