SEC Form 4 · accession 0000899243-15-009170
SunGard
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Kevin McCurry
Officer — SVP, Corporate Dev. & Strategy
Period of report
Nov 30, 2015
Accepted (ET)
Dec 2, 2015 · 5:53 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001337272
Table I — non-derivative securities
No Table I lines on this filing.
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Performance-Based Appreciation UnitsF3,F4,F1,F2 | $15.96 | Nov 30, 2015 | D | 68,023 | D | Jun 1, 2017 | Jun 1, 2017 | Units | 68,023 | 0 | D |
| Time-Based Restricted Stock UnitF6,F5,F2 | — | Nov 30, 2015 | D | 6,067 | D | Jun 1, 2018 | Jun 1, 2018 | Units | 6,067 | 0 | D |
| Time-Based Restricted Stock UnitF7,F8,F5,F2 | — | Nov 30, 2015 | D | 7,280 | D | Jun 1, 2017 | Jun 1, 2017 | Units | 7,280 | 0 | D |
| Time-Based Restricted Stock UnitF8,F9,F5,F2 | — | Nov 30, 2015 | D | 14,497 | D | Feb 20, 2018 | Feb 20, 2018 | Units | 14,497 | 0 | D |
| Performance-Based Restricted Stock UnitF10,F2 | — | Nov 30, 2015 | A | 7,390 | A | Jun 1, 2017 | Jun 1, 2017 | Units | 7,390 | 22,170 | D |
| Performance-Based Restricted Stock UnitF12,F13,F10,F2 | — | Nov 30, 2015 | D | 5,360 | D | Feb 20, 2018 | Feb 20, 2018 | Units | 5,360 | 0 | D |
| Performance-Based Restricted Stock UnitF12,F14,F10,F2 | — | Nov 30, 2015 | D | 22,170 | D | Jun 1, 2017 | Jun 1, 2017 | Units | 22,170 | 0 | D |
| Performance-Based Restricted Stock UnitF12,F14,F10,F2 | — | Nov 30, 2015 | D | 7,630 | D | Feb 19, 2018 | Feb 19, 2018 | Units | 7,630 | 0 | D |
| Performance-Based Restricted Stock UnitF12,F14,F10,F2 | — | Nov 30, 2015 | D | 12,133 | D | Jun 1, 2018 | Jun 1, 2018 | Units | 12,133 | 0 | D |
Explanation of responses
- F1Represents the base price of the award.
- F10Performance-Based Restricted Stock Units ("Performance RSUs") award represented a right to receive Units upon satisfaction of performance-based vesting and time-based payout conditions.
- F11In connection with the Merger, the Compensation Committee of SunGard, pursuant to its authority under the SunGard 2005 Management Incentive Plan, as Amended and Restated and the applicable grant agreements, determined that the Performance RSUs granted in 2014 would be earned at 150% of the grant amount based on an estimate of attainment of performance conditions in connection with the Merger, resulting in a right to receive additional Units upon vesting.
- F12Represents the number of Units which were deemed earned based on the applicable performance criteria of the Performance RSU.
- F13Pursuant to the applicable award agreement, the time-based payout condition of each earned Performance RSU accelerated at the effective time of the Merger, and pursuant to the Merger Agreement each such Performance RSU was converted into a right to receive Unit Merger Consideration.
- F14Pursuant to the Merger Agreement, at the effective time of the Merger, each unvested Performance RSU was converted into approximately 0.3677 Converted RSUs. The Converted RSUs received have the same time-based vesting terms as the existing unvested awards disposed of in the Merger.
- F2Each "Unit" consisted of 1.3 shares of Class A-8 common stock and 0.1444 shares of Class L common stock of SunGard and 0.038 shares of preferred stock of SunGard Capital Corp. II ("SCCII").
- F3On November 30, 2015, Fidelity National Information Services, Inc. ("FIS") acquired SunGard pursuant to the Agreement and Plan of Merger, dated August 12, 2015, by and among FIS, SunGard and the other parties named therein (the "Merger Agreement"). Pursuant to the Merger Agreement, SunGard became a wholly-owned subsidiary of FIS (the "Merger").
- F4(Continued from footnote 3) Pursuant to the applicable award agreement, at the effective time of the Merger, any vesting conditions applicable to outstanding appreciation units were accelerated in full, and pursuant to the Merger Agreement each appreciation unit was cancelled and was converted into the right to receive approximately 0.2043 shares of common stock of FIS and $10.78 in cash, based on the merger consideration payable in respect of the underlying shares of Class L common stock of SunGard and the merger consideration payable in respect of the underlying shares of preferred stock of SCCII (the "Unit Merger Consideration") where such Unit Merger Consideration was reduced by an amount equal to the base price of the award, applied ratably to the share and cash portions of the Unit Merger Consideration.
- F5Time-Based Restricted Stock Unit ("Time RSU") award represented a right to receive Units upon satisfaction of time-based vesting and payout conditions.
- F6Pursuant to the Merger Agreement, at the effective time of the Merger, each unvested Time RSU was converted into approximately 0.3677 restricted stock units of FIS, where each restricted stock unit represents the right to receive one share of common stock of FIS upon vesting ("Converted RSUs"). The Converted RSUs received have the same time-based vesting terms as the existing unvested awards disposed of in the Merger.
- F7Represents Time RSUs, of which 2,427.0000 were vested as of the effective time of the Merger and 4,853.0000 were unvested as of the effective time of the Merger.
- F8Pursuant to the Merger Agreement, at the effective time of the Merger, each vested Time RSU was converted into the right to receive Unit Merger Consideration, and each unvested Time RSU was converted into approximately 0.3677 Converted RSUs. The Converted Time RSUs received have the same time-based vesting terms as the existing unvested awards disposed of in the Merger.
- F9Represents Time RSUs, of which 7,249.0238 were vested as of the effective time of the Merger and 7,247.9084 were unvested as of the effective time of the Merger.