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TSS Total System Services

133.27
0.00 (0.00%)
26 Dec 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Total System Services NYSE:TSS NYSE Common Stock
  Price Change % Change Share Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 133.27 0 00:00:00

Statement of Changes in Beneficial Ownership (4)

18/09/2019 3:11pm

Edgar (US Regulatory)


FORM 4
[X] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).         
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
                                                                                  
OMB APPROVAL
OMB Number: 3235-0287
Estimated average burden
hours per response...
0.5                       
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
                      

1. Name and Address of Reporting Person *

Todd Paul M
2. Issuer Name and Ticker or Trading Symbol

TOTAL SYSTEM SERVICES INC [ TSS ]
5. Relationship of Reporting Person(s) to Issuer (Check all applicable)

_____ Director                    _____ 10% Owner
__X__ Officer (give title below)    _____ Other (specify below)
Sr. EVP and CFO
(Last)          (First)          (Middle)

P. O. BOX 2506
3. Date of Earliest Transaction (MM/DD/YYYY)

9/17/2019
(Street)

COLUMBUS, GA 31902-2506
(City)        (State)        (Zip)
4. If Amendment, Date Original Filed (MM/DD/YYYY)

 
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. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. 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)
Code V Amount (A) or (D) Price
Common Stock  9/17/2019    A    48300  A  (1) 113940  D 
 
Common Stock  9/17/2019    D    48300  D  (2) 65640  D 
 
Common Stock  9/17/2019    D    3829  D  (3) 61811  D 
 
Common Stock  9/17/2019    D    61811  D  (4) 0  D 
 

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Trans. Date 3A. Deemed Execution Date, if any 4. Trans. 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 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 of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Employee Stock Option (right to buy)  $38.20  9/17/2019    D        33791    (5) 2/26/2025  Common Stock  33791   (5) 0  D 
 
Employee Stock Option (right to buy)  $44.48  9/17/2019    D        34985    (5) 2/25/2026  Common Stock  34985   (5) 0  D 
 
Employee Stock Option (right to buy)  $54.47  9/17/2019    D        32667    (5) 2/16/2027  Common Stock  32667   (5) 0  D 
 
Employee Stock Option (right to buy)  $87.08  9/17/2019    D        28085    (5) 2/15/2028  Common Stock  28085   (5) 0  D 
 
Employee Stock Option (right to buy)  $91.93  9/17/2019    D        16613    (5) 2/12/2029  Common Stock  16613   (5) 0  D 
 

Explanation of Responses:
(1)  These shares are subject to Total System Services, Inc. (the "Company") performance share awards and have been deemed to be acquired by the reporting person on September 17, 2019 (the "Effective Date"), the effective date of the acquisition of the Company by Global Payments Inc. ("Global Payments") pursuant to an Agreement and Plan of Merger, dated as of May 27, 2019 (the "Merger Agreement"), as a result of the number of shares of Company common stock subject to such performance share awards becoming fixed in accordance with the terms of the Merger Agreement. No consideration was given or received in connection with this deemed acquisition.
(2)  These shares were subject to Company performance share awards which were assumed by Global Payments pursuant to the Merger Agreement, on the Effective date, and replaced with Global Payments restricted stock units with the same vesting and other terms, provided that the number of shares of Global Payments common stock subject to each new restricted stock unit award will be equal to the number of shares of Company common stock subject to the performance share award on the Effective Date, as reported in the first line of this report, multiplied by .8101, rounded to the nearest whole share, and further provided, that each such new award shall be scheduled to cliff vest, subject to the holder's continued service with Global Payments or its subsidiaries, on the last day of the originally scheduled Company performance period.
(3)  These shares were subject to Company restricted stock unit awards which were assumed by Global Payments pursuant to the Merger Agreement, on the Effective date, and replaced with Global Payments restricted stock units with the same vesting and other terms, provided that the number of shares of Global Payments common stock subject to each new restricted stock unit award will be equal to the original number of shares of Company common stock subject to the restricted stock unit award multiplied by .8101, rounded to the nearest whole share.
(4)  These shares were disposed of pursuant to the Merger Agreement in exchange for shares of Global Payments common stock, at a rate of .8101 shares of Global Payments common stock for each share of the Company. The closing price of Global Payments common stock on the New York Stock Exchange on the Effective Date was $163.74 per share.
(5)  These options, which all provided for vesting in three annual installments beginning one year from the date of grant were assumed by Global Payments pursuant to the Merger Agreement, on the Effective date, and replaced with Global Payments options with the same vesting and other terms, provided that the number of shares of Global Payments common stock subject to each new option will be equal to the original number of shares of Company common stock subject to the option multiplied by .8101, rounded down to the nearest whole share, and the exercise price per share of each new option will be equal to the original exercise price divided by .8101, rounded up to the nearest cent.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director 10% Owner Officer Other
Todd Paul M
P. O. BOX 2506
COLUMBUS, GA 31902-2506


Sr. EVP and CFO

Signatures
/s/ Garilou Page, Attorney-in-Fact 9/18/2019
**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 control number.

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