Lender Processing Services, Inc. 4
4 · Lender Processing Services, Inc. · Filed Jul 7, 2008
Insider Transaction Report
Form 4
Haines Marshall
Director
Transactions
- Award
Non-Qualified Stock Option (right to buy)
2008-07-02+13,728→ 13,728 totalExercise: $36.15From: 2009-11-09Exp: 2013-11-09→ Common Stock (13,728 underlying)
Footnotes (2)
- [F1]In connection with the spin-off of issuer from Fidelity National Information Services, Inc. ("FIS"), the reporting person received options to purchase shares of the issuer's common stock in replacement of, and with an intrinsic value equal to, options to purchase FIS common stock which were cancelled. The number of shares subject to the option and the exercise price were determined using the ratio of (a) the sum of the when-issued close price of issuer ($33.00, as adjusted for the distribution ratio of one share of LPS stock for every two shares of FIS stock outstanding on the record date) and the ex-dividend close price of FIS ($21.25), and (b) the when-issued close price of issuer. The options were issued under the Lender Processing Services, Inc. 2008 Omnibus Incentive Plan, and have the same terms and conditions as the FIS options they replaced.
- [F2]The option vests in three equal annual installments beginning on the first anniversary of the grant by FIS.