Business Context and Reporting Period
This Form 8-K filing by Fidelity National Information Services, Inc. (FIS) reports a corporate governance event dated May 8, 2013. The filing details the appointment of a new senior executive officer to oversee the company's accounting functions.
Key Financial Metrics
The filing does not provide financial performance data such as revenue, profit, cash flow, margins, debt, or liquidity. The document focuses exclusively on personnel changes and compensation arrangements.
Material Changes
The primary material change is the appointment of Peter Smith as Corporate Senior Vice President and Chief Accounting Officer, effective May 8, 2013. This appointment ends the interim period during which James W. Woodall, the Chief Financial Officer, fulfilled the duties of principal accounting officer.
Management Commentary and Compensation
Mr. Smith, 45, previously served as Senior Vice President and Segment Controller for FIS since October 2009. He has entered into a three-year employment agreement with the following terms:
- Base Salary: $265,000 per year.
- Target Annual Bonus: No less than 70% of the annual base salary.
- Maximum Annual Bonus: Up to 140% of the annual base salary.
- Proration: Target and maximum bonus amounts are prorated for the 2013 fiscal year.
Investor Verification Checklist
- Confirm the effective date of Peter Smith's appointment as Chief Accounting Officer (May 8, 2013).
- Verify the terms of the three-year employment agreement, specifically the base salary of $265,000 and bonus structure.
- Note that the filing contains no financial results or guidance for the period.