FIS’s CFO establishes trading plan for selling some of his shares
Under the plan, 200,997 stock options held by Woody Woodall may be exercised and the underlying shares of FIS stock immediately sold.
Fidelity National Information Services, Inc. (NYSE:FIS) announced on Friday that its chief financial officer Woody Woodall has established a stock trading plan in accordance with the requirements specified in Rule 10b5-1(c) of the Securities Exchange Act of 1934. Under the plan, Mr Woodall will sell a portion of his common shares of the company in an orderly manner.
The transactions may take place from time-to-time in 2019, subject to certain 10b5-1 plan criteria, including certain minimum price levels. Under the Rule 10b5-1 Trading Plan, 200,997 stock options held by Mr Woodall may be exercised and the underlying shares of FIS stock immediately sold.
The Rule 10b5-1 Trading Plan is designed to facilitate the orderly exercise of employee stock options as part of personal financial planning, including the avoidance of option expirations or lapses, with the goal of minimizing market impact and avoiding any concerns about the timing of the transactions.
Rule 10b5-1 permits corporate officers, directors and others to adopt written, pre-arranged stock trading plans when they are not in possession of material, non-public information. Using these plans, insiders may gradually diversify their investment portfolios and spread stock trades over a period of time regardless of any material, non-public information they may receive after adopting their plans. In accordance with 10b5-1 rules, Mr Woodall will have no discretion over sales under the Rule 10b5-1 Trading Plan.
All transactions under the Rule 10b5-1 Trading Plan will be disclosed through Form 144 and Form 4 filings with the Securities and Exchange Commission as required by applicable securities laws. After the completion of all transactions contemplated by this Rule 10b5-1 Trading Plan, Mr Woodall will continue to be in compliance with FIS’ formal stock ownership guidelines for executive officers.