FIS CEO to sell a portion of his common shares
Gary Norcross, Chairman and Chief Executive Officer of FIS, has adopted a stock trading plan to sell some of his shares in the company. This becomes clear from a filing with the SEC.
The plan is in accordance with the requirements specified in Rule 10b5- 1(c) of the Securities Exchange Act of 1934, as amended. The transactions may take place from time-to-time in 2021, subject to certain 10b5-1 plan criteria, including certain minimum price levels and daily volume activity.

Under the Rule 10b5-1 Trading Plan, up to 230,061 stock options held by Mr. Norcross, which would otherwise expire on February 9, 2022, 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, with the goal of minimizing market impact and avoiding any concerns about the timing of the transactions. The plan is in accordance with the guidelines specified by Rule 10b5-1 under the Securities Exchange Act of 1934.
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. Norcross will have no discretion over sales under the plan.
Mr Norcross has overseen significant growth of FIS’ product portfolio and global footprint. He was critical to the company’s acquisition and integration of Metavante Technologies, Inc. and SunGard, and was heavily involved in its acquisitions of a large number of companies, including Certegy and eFunds.
More recently, he drove the company’s 2019 acquisition of Worldpay, one of the world’s leading global eCommerce and payment technology companies, and largest ever in the financial technology industry.