Fidelity National’s Sanchez Earns $5 Million on Options Move

JACKSONVILLE, Fla. – Frank Sanchez, the former CEO of Sanchez Computer Associates, which was acquired three years ago by Fidelity National Information Services, earned a one-day windfall last week with the simultaneous exercise of options and sale of the shares. Sanchez, now head of FIS’s enterprise banking and retail operations, exercised 134,525 options on July 27 at just $15.63, then sold the shares for $51.40 each, netting more than $4.8 million in the process, according to a filing with the Securities and Exchange Commission. Sanchez, whose father Michael Sanchez founded Sanchez Computer, earned more than $3 million on a similar trade of 100,000 FIS options/shares in February. Sanchez Computer is one of a dozen back-office service providers acquired by Fidelity National to form Fidelity National Information Services.