Are Caroline Tsai’s reported FIS share dispositions indicative of open-market selling?

The reported share dispositions are described as tax-withholding transactions, not open-market sales. Shares were withheld upon vesting of performance stock units and restricted stock units to pay related tax liabilities, a common administrative feature of equity compensation programs.

Executive stock awards and tax share withholding at FIS (NYSE: FIS)

Q: What performance period applied to Caroline Tsai’s vested performance share units at FIS?

The performance share units that vested for Caroline Tsai were granted on February 28, 2023, with a single three-year performance measurement period ending on December 31, 2025. Vesting occurred on February 28, 2026, after meeting time-based and performance-vesting conditions.

Filing Impact

(Very High)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

Fidelity National Information Services (FIS) officer Caroline Tsai reported equity compensation activity involving restricted stock units and common shares. On February 28, 2026, she received a grant of 39,246 restricted stock units, each representing a contingent right to one share of FIS common stock.

On the same date, previously granted performance share units from February 28, 2023 vested after meeting time- and performance-vesting conditions over a three-year period ending December 31, 2025, resulting in multiple conversions of restricted stock units into common stock. Several blocks of common shares were automatically withheld to satisfy tax withholding obligations upon vesting.

After these grants, conversions, and tax-withholding dispositions, Tsai directly held 66,142 shares of FIS common stock as reported in the filing. The transactions reflect compensation vesting and related tax payments rather than open-market purchases or sales.

Insider Trade Summary

33,579 shares exercised/converted

Mixed 12 txns

Insider Tsai Caroline

Role See Remarks

Type	Security	Shares	Price	Value
Grant/Award	Restricted Stock Units	39,246	$0.00	--
Exercise	Restricted Stock Units	8,285	$0.00	--
Exercise	Restricted Stock Units	15,667	$0.00	--
Exercise	Restricted Stock Units	9,627	$0.00	--
Grant/Award	Common Stock	9,232	$0.00	--
Tax Withholding	Common Stock	2,318	$51.05	$118K
Exercise	Common Stock	8,285	$0.00	--
Tax Withholding	Common Stock	2,018	$51.05	$103K
Exercise	Common Stock	15,667	$0.00	--
Tax Withholding	Common Stock	5,855	$51.05	$299K
Exercise	Common Stock	9,627	$0.00	--
Tax Withholding	Common Stock	3,789	$51.05	$193K

Holdings After Transaction: Restricted Stock Units — 39,246 shares (Direct); Common Stock — 46,543 shares (Direct)

Footnotes (1)

Shares vested on February 28, 2026 upon satisfaction of the time and performance vesting conditions for performance share units granted on February 28, 2023, which shares were earned based on achievement of performance goals for such PSUs for a single three-year performance measurement period ending on December 31, 2025. These shares were withheld upon the vesting of performance stock units to pay tax withholding obligations. These shares were withheld upon the vesting of restricted stock units to pay tax withholding obligations. Each restricted stock unit represents a contingent right to receive one share of FIS common stock. These restricted stock units vested in full. The restricted stock unit vests in three equal annual installments commencing on each anniversary date.

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Form 4 Insider Transactions: What Each Field Means →

03/09/2026 - 08:02 PM

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Tsai Caroline

(Last)

(First)

(Middle)

347 RIVERSIDE AVE

(Street)

JACKSONVILLE

32202

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
Fidelity National Information Services, Inc. [ FIS ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	See Remarks

3. Date of Earliest Transaction (Month/Day/Year)
02/28/2026

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	02/28/2026		A		9,232⁽¹⁾	A	$0	46,543	D
Common Stock	02/28/2026		F		2,318⁽²⁾	D	$51.05	44,225	D
Common Stock	02/28/2026		M		8,285	A	$0	52,510	D
Common Stock	02/28/2026		F		2,018⁽³⁾	D	$51.05	50,492	D
Common Stock	02/28/2026		M		15,667	A	$0	66,159	D
Common Stock	02/28/2026		F		5,855⁽³⁾	D	$51.05	60,304	D
Common Stock	02/28/2026		M		9,627	A	$0	69,931	D
Common Stock	02/28/2026		F		3,789⁽³⁾	D	$51.05	66,142	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Restricted Stock Units	⁽⁴⁾	02/28/2026		A		39,246		⁽⁶⁾	⁽⁶⁾	Common Stock	39,246	$0⁽⁴⁾	39,246	D
Restricted Stock Units	⁽⁴⁾	02/28/2026		M			8,285	⁽⁵⁾	⁽⁵⁾	Common Stock	8,285	$0⁽⁴⁾	0	D
Restricted Stock Units	⁽⁴⁾	02/28/2026		M			15,667	⁽⁶⁾	⁽⁶⁾	Common Stock	15,667	$0⁽⁴⁾	15,667	D
Restricted Stock Units	⁽⁴⁾	02/28/2026		M			9,627	⁽⁶⁾	⁽⁶⁾	Common Stock	9,627	$0⁽⁴⁾	19,254	D

Explanation of Responses:

1. Shares vested on February 28, 2026 upon satisfaction of the time and performance vesting conditions for performance share units granted on February 28, 2023, which shares were earned based on achievement of performance goals for such PSUs for a single three-year performance measurement period ending on December 31, 2025.

2. These shares were withheld upon the vesting of performance stock units to pay tax withholding obligations.

3. These shares were withheld upon the vesting of restricted stock units to pay tax withholding obligations.

4. Each restricted stock unit represents a contingent right to receive one share of FIS common stock.

5. These restricted stock units vested in full.

6. The restricted stock unit vests in three equal annual installments commencing on each anniversary date.

Remarks:

EVP, Chief Legal & Corporate Affairs Officer

	/s/ Caroline Tsai	03/09/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

Source: View Original Filing on SEC EDGAR

FAQ

What insider transactions did Caroline Tsai report at FIS on February 28, 2026?

Caroline Tsai reported equity compensation activity on February 28, 2026, at Fidelity National Information Services (FIS). She received new restricted stock unit grants, had prior performance share units vest, converted units into common stock, and had some common shares withheld to cover related tax obligations.

How many restricted stock units were granted to Caroline Tsai in the latest FIS Form 4?

The Form 4 shows that Caroline Tsai received a grant of 39,246 restricted stock units at FIS. Each unit represents a contingent right to receive one share of FIS common stock, providing equity-based compensation that vests over time or upon satisfaction of performance conditions.

Why were some FIS common shares disposed of in Caroline Tsai’s Form 4 filing?

The reported share disposals were for tax withholding purposes, not open-market sales. Shares of FIS common stock were automatically withheld upon the vesting of performance stock units and restricted stock units to satisfy tax withholding obligations associated with those equity awards.

How many FIS common shares does Caroline Tsai directly own after these transactions?

After the reported equity award grants, conversions, and tax-withholding share dispositions, Caroline Tsai directly owned 66,142 shares of Fidelity National Information Services (FIS) common stock, according to the share balances reported following the final transaction in the Form 4 filing.

What does each restricted stock unit represent in Caroline Tsai’s FIS equity awards?

Each restricted stock unit reported for Caroline Tsai represents a contingent right to receive one share of FIS common stock. These units typically convert into shares upon vesting, subject to time-vesting schedules and, for some awards, achievement of specified performance goals.