One-Day Option Move Nets $3 Million

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 of $3.1 million Feb. 21. Securities and Exchange Commission files show Sanchez, now head of FIS’s enterprise banking and retail operations, exercised 100,000 FIS options for $15.63 each, then sold the shares for $47, as FIS shares reached a new high. Sanchez’s father, Michael Sanchez, who founded Sanchez Computer, had a one-day windfall of $10 million on Jan. 7, when he exercised 287,000 FIS options, then sold the shares. The elder Sanchez is now the chairman of the international division of FIS. Sanchez Computer is one of eight back-office service providers acquired by Fidelity National to form Fidelity National Information Services.